Angelina Ltd acquired 25% of shares and significant influence over the operations of Singleton Ltd on 1 January 20X0. Both companies have financial years ending 31 December. Singleton Ltd reported a profit of $80,000 and paid a cash dividend of $0.04 per share. Singleton Ltd has issued 1 million ordinary shares. Under equity accounting, by how much would the 'Investment in Singleton Ltd' account change for the year ended 31 December 20X0?

Answer rating: 100% (QA)

Under equity accounting the Investment in Singleton Ltd account would change by the prop... View the full answer