FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cornerstones of Managerial Accounting

Cornerstones of Managerial Accounting

Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman

2nd Canadian edition

978-0176721237, 978-0176530884

More Books

Students also viewed these Accounting questions

Question

★★★★★
Maximus Dog Company purchased a new supply van on January 1, 2011, for $35,000. The van is estimated to last for five years and will then be sold, at which time it should be worth approximately...

Answered: 1 week ago

Question

★★★★★
1. In each situation, what are the main financial planning issues that need to be addressed? While at some point in your life you may use the services of a financial planner, your personal knowledge...

Answered: 1 week ago

Question

★★★★★
6.58 Find a zo such that a. P(-zozzo)=0.95 b. P(-zozzo) = 0.98 c. P(-zozzo) 0.90 d. P(-zozzo)=0.99

Answered: 1 week ago

Question

★★★★★
Carola Industries, Ind., manufactures discs for several of the leading recording studios in the United States and Europe. Department 60 is responsible for the electronic circuitry within each disc....

Answered: 1 week ago

Question

★★★★★
FV=PV(1+r)^n 1460000(1+7.54%)^25=8986770.67 is Wrong In 1895, the first Putting Green Championship was held. The winner's prize money was $220. In 2016, the winner's check was $1,460,000. a. What was...

Answered: 1 week ago

Question

★★★★★
Reconsider the Southwestern Airways crew scheduling problem presented in Section 7.4. Because of a blizzard in the Chicago area, all the flights into and out of Chicago (including flights 4, 6, 7,...

Answered: 1 week ago

Question

★★★★★
1. What is the difference between a power series, a Maclaurin series, and a Taylor series, if any? 2. Can you state a reason why it is useful to use a Taylor series centered at a number other than 0?...

Answered: 1 week ago

Question

★★★★★
_____________ phase includes consideration of the full scope of operational support, such as maintenance, supply, transportation, sustaining engineering, spectrum supportability, etc. A. Technology...

Answered: 1 week ago

Question

★★★★★
M1D5( Guest Reservations) 1-Discuss what the case Freeman v. Kiamesha Concord, Inc., teaches us with respect to contractual agreements between a hotel and a guest. 2-Discuss the damages a guest may...

Answered: 1 week ago

Question

★★★★★
Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company has always produced all of the parts for its engines, Including the carburetors. An outside supplier...

Answered: 1 week ago

Question

★★★★★
Solve and indicate whether the following series are convergent or divergent Ans: Diverges by Limit Comparison Test 0 3 m=1 7" n! Ans: Converges by Integral Test 8 h= n=1 Thus, this diverges by the...

Answered: 1 week ago

Question

★★★★★
A farmer installed a tank for the purpose of keeping the hot water for his residential house in the farm. The tank is made of mild steel of wall thickness 10 mm and contains water at 90oC. Calculate...

Answered: 1 week ago

Question

★★★★★
In this assessment, you will be analysinga current contemporary issuethat relates to an aspect (topic, area, issue) of the material covered in the unit from Lecture 4 onwards. You will be required to...

Answered: 1 week ago

Question

★★★★★
7. List examples from your everyday situation where using the CI strategy could have provided a better solution in a communication situation than the solutions you chose.

Answered: 1 week ago

Question

★★★★★
6. What is meant by: accessibility carries greater weight than relevance?

Answered: 1 week ago

Question

★★★★★
1. To learn how to develop a vision that can be communicated. To gain insight into the importance of game theory for communication strategies.

Answered: 1 week ago

Previous Question Next Question