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What amount should be debited to the investment account

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Question - Black company owned 50,000 ordinary shares which were purchased for 5 points P120 per share. During the year, the investee distributed 50,000 stock rights to the investor. The investor was entitled to buy one new share for P90 cash and two of these rights. Each share had a market value of P130 and each right had a market value of P20 on the date of issue. What amount should be debited to the investment account if the rights were not accounted for separately?

Reference no: EM133132101

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