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How much did mills company pay for interest

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On January 2, 2019, Mills Company purchased 25% of Boon Corporation's ordinary shares, no goodwill resulted from the purchase.

  • Mills appropriately carries this investment at equity and the ending balance in Mill's investment account at December 31, 2019 was Php 1.900,000.
  • Boon Company reported net income of Php 1,200,000 for the year ended December 31, 2019 and paid ordinary share dividends totaling Php 480,000 during 2019

Problem 1: How much did Mills Company pay for its 25% interest in Boon Company on January 2, 2019

Reference no: EM132740310

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