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)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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)
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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