Sotuion 38 Question | Answer oa en ‘of Haven Net coe a 219 iene om ponent.) nijsednticone tevesment name for 2019 (2082700000) Question 2 Answer € et ivan for 2020, REECE on 123/2019nventory of ven Company nies profren 12172020 ;aventor of Haven ‘Company C50 00 ~300.00) djs et income Investenent income for 2020 (20% 4,050,000) Quetion 3 Answer d ‘Acgiioncost Invertent income 2018 Share in cash dividend ~ 201 (20% x 1,000,000) Iivesiment income 2020 ‘Shar in cash ividend~ 2020 (20% x 150,000) ‘Canyingamovat ~ December 31, 2020 as Problem 38-9 (IFRS) es oa Company 6 F5.0000en amas ang eA Aiden evo deems nic amonitnam este Alta Company reported te following etccome é for 2019 and 2020; ~ ae 20,2020 Net income ince 2000900 3.000000, Dividend pid ‘900 1.900000, ‘Thefellonngtanseon ocume betwen Glions Company Alta Company: i ba + Oa January 1,2018, lta Company sold an esipment costing 'P500,000to Gevous Company for PED,000, vious Company pi a0 ihe ere + Onduly1,2020,Alt Company sold an equipment for P900,000 1 Gloriois Company. ‘Thecanying smountofte equipments P500000atihetine of sale, “Therenixngioftbe pment Sears andlaous Company sed he stagiline depeition + OnDevemer 2120, Alta Company soldan invent Glorious Company for P2,800,00. ‘The inventory had acostoP2,000 000 and wasstlc hand on Desenber 31, 2020 4s.