question archive Seiko Company had 100,000 ordinary shares outstanding
Seiko Company had 100,000 ordinary shares outstanding
Subject:AccountingPrice: Bought3
Seiko Company had 100,000 ordinary shares outstanding. Globe Company acquired 30,000 shares of Seiko for P120 per share in 2016 representing 30% interest. Changes in retained earnings of Seiko are: Retained earnings (deficit), January 1, 2018 (500,000) Net income for 2018 700,000 Retained earnings, December 31, 2018 200,000 Net income for 2019 800,000 Cash dividend paid on December 31, 2019 (400,000) Retained earnings, December 31, 2019 600,000 What is the carrying amount of the investment in associate on December 31, 2019? a. 3,600,000 b. 3,930,000 c. 3,780,000 d. 4,080,000 Q) Preparing your question to be sent to tutors.
