Maynard Corporation reports net assets of P300,000 at book value. These assets have an estimated market value of P350,000. Jim Corporation buys 80% ownership of Maynard for P300,000; there is a control premium of P10,000 included in the purchase price. Of the Goodwill reported in the consolidated balance sheet (as of date of acquisition), how much is attributable to noncontrolling interest if NCI is measured at proportionate share?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Maynard Corporation reports net assets of P300,000 at book value. These assets have an estimated market value of P350,000. Jim Corporation buys 80% ownership of Maynard for P300,000; there is a control premium of P10,000 included in the purchase price. Of the Goodwill reported in the consolidated balance sheet (as of date of acquisition), how much is attributable to noncontrolling interest if NCI is measured at proportionate share?

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