What amount should gertrude report in statement of financial

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Gertrude, Inc. acquired 30% of North Company's voting shares for P 200,000 on January 2, 20x2. Gertrude's 30% interest in North gave Gertrude the ability to exercise significant influence over North's operating and financial policies. During 20x2, North earned P 80,000 and paid dividends of P 50,000. North reported earnings of P 100,000 for the six months ended June 30, 20x3 and P 200,000 for the year ended December 31, 20x3.

Problem 1: What amount should Gertrude report in its 20x2 statement of financial position as investment in Associate?

Reference no: EM132911563

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