Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If Apollo Company acquired a 30% interest in Twin Company on December 31, 2021 for P202,500 and during 2022 Twin Company had net income of

image text in transcribed

If Apollo Company acquired a 30% interest in Twin Company on December 31, 2021 for P202,500 and during 2022 Twin Company had net income of P75,000 and paid a cash dividend of P30,000, applying the equity method would give a debit balance in the Equity Investments account at the end of 2022 of O P225,000. O P202,500. O P217,500. O P216,000

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

Step: 3

blur-text-image

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

More Books

Students also viewed these Accounting questions