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on Associate (SFP) Penny bought 30% of the equity share capital of Alex 1 January 2005 for P250,000. Alex's profits for the year were 2170,000.

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on Associate (SFP) Penny bought 30% of the equity share capital of Alex 1 January 2005 for P250,000. Alex's profits for the year were 2170,000. An impairment review was carried out at the end of the year and the investment in Alex was found to be impaired by P20,000. Calculate the investment in associate to appear in Penny's financial statements at 31 December 2025. (5 points with solution)

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