he fair value of Winds' assets is PS50,000 more than the aggregate carrying amounts. Non-controlling interes neasured under the proportionate share method. How much is the consolidated total equity?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tali Co. Acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities
immediately after the acquisition are shown below:
Tali Co.
Wind Corp.
Investment in Subsidiary (cost)
Other Assets
Assets
430,000
1,570,000
2,000,000
750,000
750,000
400,000
310,000
40,000
Liabilities
750,000
1,000,000
Ordinary Share Capital
Retained Earnings
Liabilities and Stockholders' Equity
250,000
2,000,000
750,000
The fair value of Winds' assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is
measured under the proportionate share method. How much is the consolidated total equity?
Transcribed Image Text:Tali Co. Acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities immediately after the acquisition are shown below: Tali Co. Wind Corp. Investment in Subsidiary (cost) Other Assets Assets 430,000 1,570,000 2,000,000 750,000 750,000 400,000 310,000 40,000 Liabilities 750,000 1,000,000 Ordinary Share Capital Retained Earnings Liabilities and Stockholders' Equity 250,000 2,000,000 750,000 The fair value of Winds' assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is measured under the proportionate share method. How much is the consolidated total equity?
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