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Compute for the carrying amount of the investment

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Reference no: EM132992350

On January 1, 20x1, Axiom Co. acquires 40% interest in Postulate, Inc. for P300,000. The nature of the acquired interest is an investment in joint venture. Postulate, Inc. reports profit of P500,000 and distributes P400,000 to its owners in 20x1.

Requirement:

Problem 1: Compute for the carrying amount of the investment at the end of the year.

Reference no: EM132992350

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