Book Value P60,000 Market Value P60,000 Cash 130,000 580,000 200,000 40,000 (250,000) (10,000) (450,000) (300,000) What is the amount of non-controlling interest on the acquisition date Inventory Plant Assets (net) Cost of Goods Sold 210,000 630,000 Depreciation Expense Liabilities (250,000) Common Stock Retained Earnings Sales consolidated balance sheet?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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7. 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.

Book Value
P60,000
Market Value
P60,000
Cash
130,000
580,000
200,000
40,000
(250,000)
(10,000)
(450,000)
(300,000)
What is the amount of non-controlling interest on the acquisition date
Inventory
Plant Assets (net)
Cost of Goods Sold
210,000
630,000
Depreciation Expense
Liabilities
(250,000)
Common Stock
Retained Earnings
Sales
consolidated balance sheet?
Transcribed Image Text:Book Value P60,000 Market Value P60,000 Cash 130,000 580,000 200,000 40,000 (250,000) (10,000) (450,000) (300,000) What is the amount of non-controlling interest on the acquisition date Inventory Plant Assets (net) Cost of Goods Sold 210,000 630,000 Depreciation Expense Liabilities (250,000) Common Stock Retained Earnings Sales consolidated balance sheet?
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