Robert Limited acquired a 25% interest in Jones Limited for $80 000. Robert holds other equity investments but does not prepare consolidated financial statements. Jones Limited revalued its plant and equipment class of assets during the current financial period which resulted in an increase to the asset revaluation surplus account of $36 000. The balance of the Investment in Associate account at the end of the current financial period is:

Question

Quizplus · Accepted Answer

The Answer of Robert Limited acquired a 25% interest in Jones Limited for $80 000. Robert holds other equity investments but does not prepare consolidated financial statements. Jones Limited revalued its plant and equipment class of assets during the current financial period which resulted in an increase to the asset revaluation surplus account of $36 000. The balance of the Investment in Associate account at the end of the current financial period is:

Robert Limited Acquired a 25% Interest in Jones Limited for $80