Question
97. On January 2, 2017, ABC. Co. acquired 200 shares DEF Co. common stock for P8,000 and classified these shares as fair value through other
97. On January 2, 2017, ABC. Co. acquired 200 shares DEF Co. common stock for P8,000 and classified these shares as fair value through other comprehensive income securities. During 2017, ABC received P6,000 of cash dividends. ABC's share of DEF's 2017 earnings was P5,000. The fair value of DEF's stock on December 31, 2017, was P7 per share. ABC should report what amount in 2017 related to DEF Co?
- Revenue of P6,000
- Answer not given
- P1,000 increase in the investment account
- P1,000 decrease in the investment account
- Revenue of P12,000
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Cornerstones of Managerial Accounting
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman
2nd Canadian edition
978-0176721237, 978-0176530884
