Book Value Market Value Cash P10,000 P10.000 Inventory 80,000 80,000 Plant Assets (net) 350,000 350,000 Cost of Goods Sold 130,000 Depreciation Expense 20,000 Liabilities (110,000) (110,000) Common Stock (30,000) Retained Earnings (260,000) Sales (190,000)
Book Value Market Value Cash P10,000 P10.000 Inventory 80,000 80,000 Plant Assets (net) 350,000 350,000 Cost of Goods Sold 130,000 Depreciation Expense 20,000 Liabilities (110,000) (110,000) Common Stock (30,000) Retained Earnings (260,000) Sales (190,000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![3. Delta Corporation acquires 70 percent of Bravo Company's stock. What
amount of non-controlling interest is recognized on the acquisition date
balance sheet if Telephone has the following account balances?
Book Value
Market Value
Cash
P10,000
P10.000
Inventory
80,000
80,000
Plant Assets (net)
350,000
350,000
Cost of Goods Sold
130,000
Depreciation Expense
20,000
Liabilities
(110,000)
(110,000)
Common Stock
(30,000)
Retained Earnings
(260,000)
Sales
(190,000)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F562544f2-50e9-4291-9009-8e4e7c636dc2%2Feac93cb8-c23b-490c-99c3-7729a28355eb%2F68u5ip_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3. Delta Corporation acquires 70 percent of Bravo Company's stock. What
amount of non-controlling interest is recognized on the acquisition date
balance sheet if Telephone has the following account balances?
Book Value
Market Value
Cash
P10,000
P10.000
Inventory
80,000
80,000
Plant Assets (net)
350,000
350,000
Cost of Goods Sold
130,000
Depreciation Expense
20,000
Liabilities
(110,000)
(110,000)
Common Stock
(30,000)
Retained Earnings
(260,000)
Sales
(190,000)
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