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How much is the net effect of the transaction in Entity A

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Question - Entity A acquires 50% interest in a joint venture for 1M and appropriately records the transaction under an investment account. At the end of the period, the joint venture reports profit of 1M and makes a total distribution of 600,000 to the owners. How much is the net effect of the transaction in Entity A's profit or loss for the current year?

Reference no: EM132993222

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