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On January 1, 2021, IBM Company paid P1,200,000 for 40,000 ordinary shares of Apple Corp., which represent a 25% investment in the net assets
On January 1, 2021, IBM Company paid P1,200,000 for 40,000 ordinary shares of Apple Corp., which represent a 25% investment in the net assets of Apple. IBM has the ability to exercise significant influence over Apple. IBM received a dividend of P3 per share from Apple in 2021. The reported profit of Apple for the year ended December 31, 2021 was P640,000. The balance of IBM's Investment in Apple at December 31, 2021 should be
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To calculate the balance of IBMs investment in Apple at December 31 2021 we need to consider the initial investment dividends received and the share o...
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Advanced Financial Accounting
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
10th edition
78025621, 978-0078025624
