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SOLVED: On January 1, 2023, ProfessorX Company reported as long-term investments the following unquoted equity securities:- Bubbles Company, 30,000 ordinary shares (8% interest) P6,000,000- Buttercup Company, 45,000 ordinary shares (6% interest) P9,500,000- Blossom Company, 30,000 ordinary shares (10% interest) P3,500,000• On June 1, 2023, Bubbles Company issued a 25% stock dividend.• On November 1, 2023, Bubbles Company paid a cash dividend of P20 per share.• On January 1, 2023, ProfessorX Comp
SOLVED: On January 1, 2023, ProfessorX Company reported as lon…
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