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How much is the carrying value of the investment

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Question - On June 1, 2020, Seventy company acquired the 30% of Seven corporation's outstanding ordinary shares for P200,000. As of the end of 2020, the fair value is P220,000. The investee reported a net income of P240,000 which was earned evenly during the year 2020. Cash dividends of P12,000 were declared on January 5, 2021. How much is the carrying value of the investment in associate at the end of the year 2020?

Reference no: EM133169418

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