Answer items no. 15 and 16. Kindly show your solution clearly.

15. Johnny Co. owns 25% of the ordinary shares of Papa, Inc. Johnny's records on December 31, 20x1 show the following information before any necessary year-end adjustments: Investment in associate 100,000. Investment in preference shares - Papa 80,000 Loan receivable - Papa (due in 5 yrs.; unsecured) Trade accounts receivable - Papa 50,000 20,000 Additional information: Papa reports losses of P800,000, P400,000 and P200,000 in 20x1, 20x2 and 20x3, respectively, and profit of P300,000 in 20x4. In 20x3, Johnny makes payments of P15,000 on behalf of Papa. How much (loss) profit should Johnny report in the following years in relation to its investment in Papa? 20x1 20x2 20x3 20x4 a. (200,000) (30,000) (15,000) 75,000 b. (200,000) (30,000) (15,000) 0 c. (230,000) 0 0 75,000 d. (200,000) (30,000) (15,000) (45,000) quired 40% nonal a S 16. On Jan. 1, 20x1, Ala-ala Co. acquired 40% ownership interest in the voting shares of Spider Co. for P5,000,000. The acquisition resulted to an implied goodwill of P170,000. Spider Co. reported losses of P2,000,000 and P3,000,000 in 20x1 and 20x2, respectively. On Dec. 31, 20x2, Ala-ala Co. determined the following: Fair value less costs of disposal of the investment (FVLCD) 2,040,000 Value in use of the investment (VIU) 2,120,000 N D N C L How much is the impairment loss? a. 2,880,000 b.960,000 c. 880,000 d. O