Reference no: EM132795965
Ken Co. invested $2,000,000 cash in a joint venture for a 50% interest on January 1, 2018. For the years ended 2018,2019, and 2020, the JV reported the ff:
NET INCOME (LOSS)
2018: 1,000,000
2019: (6,000,000)
2020: 7,000,000
DIVIDEND DISTRIBUTION
2018: 300,000
2019: 0
2020: 500,000
Problem 1: What is the share in investment loss or share in net loss to be reported by Ken for the year ended Decmber 31, 2019?
Problem 2: What is the book value of investment in joint venture by Ken as of December 31, 2020?
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