+ 21. The working paper elimination entry recorded by the Parent Company on January 01, 2020 the date of acquisition of its subsidiary follows: Ordinary Share Capital - Subsidiary Ordinary Share Premium- Subsidiary Retained Eamings-Subsidiary Inventory Plant Assets (net) P200,000 300,000 250,000 75,000 105,000 70,000 200,000 kasama ina Gu in ALT Patent Goodwill Investment in Subsidiary Non - Controlling Interest 920,000 280,000 Of the recorded goodwill, P60,000 belongs to non-controlling interest. Determine the percentage acquired by the parent. a. 75% b. 72% C. P78% d. P76 2/3%

+ 21. The working paper elimination entry recorded by the Parent Company on January 01, 2020 the date of acquisition of its subsidiary follows: Ordinary Share Capital - Subsidiary Ordinary Share Premium- Subsidiary Retained Eamings-Subsidiary Inventory Plant Assets (net) P200,000 300,000 250,000 75,000 105,000 70,000 200,000 kasama ina Gu in ALT Patent Goodwill Investment in Subsidiary Non - Controlling Interest 920,000 280,000 Of the recorded goodwill, P60,000 belongs to non-controlling interest. Determine the percentage acquired by the parent. a. 75% b. 72% C. P78% d. P76 2/3%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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