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Compute the investment balance in hayde company

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Reference no: EM132790935

Question - On January 1, 2015, Allan Corporation purchased 20% of Hayde Company's ordinary shares outstanding for P9,000,000. The acquisition cost is equal to the book value of the net assets acquired. During 2015, Hayde reported net income of P10,500,000 and paid cash dividend of P6,000,000. Compute the investment balance in Hayde Company on December 31, 2015?

Reference no: EM132790935

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