Question: Question# 3 Marks: 16 Big Co. has a 25% interest in Small Co. Big uses the cost method internally to record the investment in Small

Question# 3 Marks: 16 Big Co. has a 25% interest in

Question# 3 Marks: 16 Big Co. has a 25% interest in Small Co. Big uses the cost method internally to record the investment in Small Big & Small's financial data for 2020 are as follows: Big Co. Small Co. Current assets Dec 31, 2020 500 100 Sales revenue -2020 1,200 600 Net income - 2020 200 50 Dividends paid - 2020 20 Required: Complete the tables with the following balances for Big Co.'s IFRS financial statements assuming Small Co. is a: i) Joint venture Big Co. $ Calculations Current assets Dec 31, 2020 Sales revenue -2020 Net income - 2020 ii) Joint operation Big Co. $ Calculations Current assets Dec 31, 2020 Sales revenue -2020 Net income - 2020

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