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Question - On June 30, 2021, Laguna Company purchased 10% of Cavite Company's outstanding ordinary shares for P4,000,000. Laguna is the largest single shareholder in Cavite and Laguna's officers are a majority of Cavite's board of directors. Cavite reported net income of P5,000,000 for 2021 and paid dividends of P1,500,000. In its December 31, 2021 balance sheet, what amount should Laguna report as investment in Cavite?
NITSU Manufacturing Corporation is preparing the annual financial statements for the stockholders. A statement of cash flows must be prepared. The following data on cash flows were developed for the entire year ended December 31, 2009:
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on january 1 2012 the ledger of montoya company contains the following liability accounts. accounts payable 53450 sales
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