On January 1, 2020, B Company acquired 80% of A Company’s common stock for Php280,000 cash. At that date, A reported common stock outstanding of Php200,000 and retained earnings of Php100,000, and the fair value of the non-controlling interest was Php70,000. The book values and fair values of A’s assets and liabilities were equal, except for intangible assets which has a fair value of Php50,000 greater than book value and an 8-year remaining life. A reported the following data for 2020 and 2021. Year Net Income Comprehensive Income Dividends Paid 2020 25,000 30,000 5,000 2021 35,000 45,000 10,000 B reported separate net income from own operations of Php100,000 and paid dividends of Php30,000 for both years. What is the amount of consolidated comprehensive income reported for 2020?
On January 1, 2020, B Company acquired 80% of A Company’s common stock for Php280,000 cash. At that date, A reported common stock outstanding of Php200,000 and
|
Year |
Net Income |
Comprehensive Income |
Dividends Paid |
|
2020 |
25,000 |
30,000 |
5,000 |
|
2021 |
35,000 |
45,000 |
10,000 |
B reported separate net income from own operations of Php100,000 and paid dividends of Php30,000 for both years.
What is the amount of consolidated comprehensive income reported for 2020?
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