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On May 1, 1991, JP Company acquired 30% of the voting stock of ABC Corp. In 1991, ABC had net earnings of P100,000 and paid

On May 1, 1991, JP Company acquired 30% of the voting stock of ABC Corp. In 1991, ABC had net earnings of P100,000 and paid dividends of P10,000. JP mistakenly recorded these transactions using the co...

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