Reference no: EM133085882
Problem - Alpha Company acquired 20,000 shares of Beta Company on January 1, 2021 at P120 per share. Beta Company had 80,000 shares outstanding with a carrying amount of P8,000,000.
The difference between the carrying amount and fair value of Beta Company on January 1, 2021 is attributable to a broadcast license intangible asset.
Alpha Company has a 20-year straight line amortization policy for the broadcast license.
Beta Company recorded earnings of P3,600,000 and P3,900,000 for 2021 and 2022, respectively, and paid per-share dividend of P16 in 2021 and P20 in 2022.
Required -
1. Compute the Investment Income 2021?
2. Compute the Investment Income 2022?
3. What is the Carrying Amount of the Investment in Associate Account 2021?
4. What is the Carrying Amount of the Investment in Associate Account 2022?
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