Chen Group acquired 20% of the outstanding ordinary shares of Cho Ltd. on December 31, 2019. The purchase price was ¥185000000 for 50000 shares. Cho declared and paid an ¥60 per share cash dividend on June 30 and on December 31, 2020. Cho reported net income of ¥81000000 for 2020. The fair value of Cho’s shares was ¥3900 per share at December 31, 2020. At what amount is the investment reported on the statement of financial position under each of these methods at December 31, 2020? What is the effect on net income reported in 2020 under each of these methods?
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Chen Group acquired 20% of the outstanding ordinary shares of Cho Ltd. on December 31, 2019. The pur...
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