On April 1, 20x1, ABC Company acquired as a long-term investment a 20% ordinary share interest in DEF Company. ABC paid 7,000,000 for this investment. For the year ended December 31, 20x1, the investee reported net income of P4,000,000 and declared and paid cash dividends of P1,600,000. 

What is the balance of the investment account at year end?

Answer rating: 100% (QA)

To work out the equilibrium of the venture account at yearend we really want to think about the und... View the full answer