Question
On October 15, 2020, the Skyline Company received a liquidating dividend of P100,000 from David Company. The entity owned 25,000 shares, representing 5% ownership interest
On October 15, 2020, the Skyline Company received a liquidating dividend of P100,000 from David Company. The entity owned 25,000 shares, representing 5% ownership interest in this mining company, at a cost of P2,500,000. What amount should be reported as investment in David Company for the year ended December 31, 2020?
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Audit Sampling
Authors: Ray Whittington, Dan M Guy, D R Carmichael
5th Edition
047137590X, 9780471375906
