Question
On December 30, 2020, Aloha Company. an entity with no subsidiary, purchased 10,000 ordinary shares of Sun Valley Corporation at P150 per share. At the
On December 30, 2020, Aloha Company. an entity with no subsidiary, purchased 10,000 ordinary shares of Sun Valley Corporation at P150 per share. At the time of the purchase, Sun Valley has an outstanding 50,000 shares with a total shareholder's equity of P7,500,000. For the Year 2021, Sun Valley reported profit of P3,000,000. On December 30, Aloha received a cash dividend of P50 per share.
Based only on the foregoing information, what is the investment carrying value at December 31, 2021?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
