Please answer number 43 with complete solution.Thank you The following information is available as of that date:The fair value of net identifiable assets of Son Co. isP800,000.Ideal Inc. uses the proportionate share of the acquiree'snet identifiable assets to measure the non-controllinginterest.Which of the following statements is/are INCORRECT?a. The total goodwill from combination is zero.b. The gain on re-measurement is P240,000.c. The parent company (Ideal Inc.) shall debit investment insubsidiary account for P560,000.d. The investment in associate shall be credited for P200,000.с.e. All of the above. 35% interest in Son Company's 250,000 ordinary shares for P161,500.dividends of P10,000 to its shareholders. On April 1, 2023, SonCompany re-acquired its own 125,000 shares, giving Ideal Inc, controlOn December 31, 2022, Son has a net income of P120,000 and paid43. On January 3, 2022, Ideal Inc. purchased 87,500 shares representing35% interest in Son Company's 250,000 ordinary shares for P161,500.Ideal accounts for the investment under the equity method.On December 31, 2022, Son has a net income of P120,000 and paiedividends of P10,000 to its shareholders. On April 1, 2023, Sonover Son Company.

When son company reacquired his own shares ,then it becomes subsidiary of Ideal co.

Company re-acquired its own 125,000 shares, giving Ideal Inc contro! 43. On January 3, 2022, Ideal Inc. purchased 87,500 shares representing 35% interest in Son Company's 250,000 ordinary shares for P161,500. Ideal accounts for the investment under the equity method. On December 31, 2022, Son has a net income of P120,000 and pare dividends of Pl10,000 to its shareholders. On April 1, 2023, So over Son Company.

Company re-acquired its own 125,000 shares, giving Ideal Inc contro! 43. On January 3, 2022, Ideal Inc. purchased 87,500 shares representing 35% interest in Son Company's 250,000 ordinary shares for P161,500. Ideal accounts for the investment under the equity method. On December 31, 2022, Son has a net income of P120,000 and pare dividends of Pl10,000 to its shareholders. On April 1, 2023, So over Son Company.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Hello question is attached, thanks.
Please tell answer as soon as possible
Is there a way you can provide an example for number 3?
In the image you can look at the question . Is asking me to choose the correct answer below and fill in the answer box to complete your choice . How can I solve this type of question ?
solve all of them. I mentioned in my question to solve all the parts
Could you show me to solve this problem step by step. Please
Required information [The following information applies to the questions displayed below.] Consider the following narrative describing the process of filling a customer's order at a Starbucks branch: Identify the start and end events and the activities in the following narrative, and then draw the business process model using BPMN: the Starbucks customer entered the drive-through lane and stopped to review the menu. He then ordered a Venti coffee of the day and a blueberry muffin from the barista. The barista recorded the order in the cash register. While the customer drove to the window, the barista filled a Venti cup with coffee, put a lid on it, and retrieved the muffin from the pastry case and placed it in a bag. The barista handed the bag with the muffin and the hot coffee to the customer. The customer has an option to pay with cash, credit card, or Starbucks gift card. The customer paid with a gift card. The barista recorded the payment and returned the card along with the…
Would you please provide the answer for #4 as well? Thank you!
Please do not give solution in image format thanku
The answer 417,974.94 was correct. Can you please help me solve without technology? Formulas used, etc. Thank you!
PLEASE EXPLAIN EACH POINT STEP BY STEP
Can you please solve questions 5-15 of the problem above. Thank you.