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Prepare Ayayai journal entries related to this investment

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Reference no: EM132745636

Problem - Ayayai Corporation purchased a 20% interest in Moss Inc. for $300. This investment gave Ayayai signi?cant in?uence over Moss. During the year, Moss earned net income of$15 and paid dividends of $5. Assuming the purchase price was equal to 20% of Moss's net carrying amount when it was acquired.

Required - Prepare Ayayai's journal entries related to this investment using the equity method. Ayayai applies IFRS.

Reference no: EM132745636

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