Book Value Market Value P60,000 Cash P60,000 130,000 Inventory Plant Assets (net) 210,000 630,000 580,000 200,000 40,000 Cost of Goods Sold Depreciation Expense Liabilities (250,000) (10,000) (450,000) (300,000) What is the amount of non-controlling interest on the acquisition date (250,000) Common Stock Retained Earnings Sales consolidated balance sheet?
Book Value Market Value P60,000 Cash P60,000 130,000 Inventory Plant Assets (net) 210,000 630,000 580,000 200,000 40,000 Cost of Goods Sold Depreciation Expense Liabilities (250,000) (10,000) (450,000) (300,000) What is the amount of non-controlling interest on the acquisition date (250,000) Common Stock Retained Earnings Sales consolidated balance sheet?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 9MC
Related questions
Question
ABC Corporation acquired 80 percent of XYZ Corporation on August 1 for P500,000. On that date, XYZ Corporation had the following book values and market values.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning