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Question - On April 1, 2020, Ben Company purchased 40% of the outstanding ordinary shares of Clarke Company for P10,000,000.
On that date, Clarke's net assets totaled P20,000,000 and Ben cannot attribute the excess of the cost of the investment in Clarke over its equity in Clarke's net assets to any particular factor. The investee reported net income of P5,000,000 for 2020.
What is the maximum amount which could be included in 2020 income before tax to reflect the equity in net income of investee?
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ABC company has a balance of $ 800 on Debit Select one:a. 3800b. 4600c. 800d. 3000 side for Allowance for Uncollectible Accounts at the end of the current year.
Assume that the annual tuition bill is due at the beginning of each academic year, and the first payment is exactly seventy two months away
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