(30,000)16. On Jan. 1, 20x1, Ala-ala Co. acquired 40% ownership interest(15,000)in the voting shares of Spider Co. for P5,000,000. Theacquisition resulted to an implied goodwill of P170,000. SpiderCo. reported losses of P2,000,000 and P3,000,000 in 20x1 and20x2, respectively. On Dec. 31, 20x2, Ala-ala Co. determinedthe following:Fair value less costs of disposal of the investment (FVLCD) 2,040,000ExcerptsauditedStatemerDeposits paNet retirenCumulatiDeferredTotal NoNoncurrenValue in use of the investment (VIU)How much is the impairment loss?Total Li2,120,000EquityCommoAua. 2,880,000b. 960,000c. 880,000d. 0Addi

The question is multiple choice question.The company acquired 40% ownership interest of another…

(30,000) (15 16. On Jan. 1, 20x1, Ala-ala Co. acquired in the voting shares of Spider C acquisition resulted to an implied goo Co. reported losses of P2,000,000 anc 20x2, respectively. On Dec. 31, 20x2, the following: Fair value less costs of disposal of the invest Value in use of the investment (VIU) How much is the impairment loss? b. 960,000 a. 2,880,000 C. 8

(30,000) (15 16. On Jan. 1, 20x1, Ala-ala Co. acquired in the voting shares of Spider C acquisition resulted to an implied goo Co. reported losses of P2,000,000 anc 20x2, respectively. On Dec. 31, 20x2, the following: Fair value less costs of disposal of the invest Value in use of the investment (VIU) How much is the impairment loss? b. 960,000 a. 2,880,000 C. 8

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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