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On January 1, 20x1, PATRIMONY Co. entered into a joint agreement classified as a joint venture. For an investment of 2,000,000, PATRIMONY Co. obtained 30%
On January 1, 20x1, PATRIMONY Co. entered into a joint agreement classified as a joint venture. For an investment of 2,000,000, PATRIMONY Co. obtained 30% interest in HERITAGE Joint Venture, Inc. During the year, HERITAGE Joint Ventures, Inc. reported profit of 4,000,000 and other comprehensive income of 800,000, for a total comprehensive income of 4,800,000. HERITAGE Joint Venture, Inc. declared dividends of 2,400,000 during the year. 15-16. How much is the carrying amount of the investment in joint venture on December 31, 20x1?
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