+ 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

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

+ 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
kasana
na Gow
in
LALT
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%

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