On July 1, 2021, ABC Co. Acquired 99% of the outstanding ordinary share capital of DEF Co for P990,000 cash. The remaining was held by a shareholder who was unwilling to sell the share. DEF's net assets had a book value of P950,000 and a fair market value of P50,000 more than the carrying value when it was acqured by ABC. The Non-controlling interest using the full goodwill method should be reported at 10,000 10,500 9,000 9,900
On July 1, 2021, ABC Co. Acquired 99% of the outstanding ordinary share capital of DEF Co for P990,000 cash. The remaining was held by a shareholder who was unwilling to sell the share. DEF's net assets had a book value of P950,000 and a fair market value of P50,000 more than the carrying value when it was acqured by ABC. The Non-controlling interest using the full goodwill method should be reported at 10,000 10,500 9,000 9,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On July 1, 2021, ABC Co. Acquired 99% of the outstanding ordinary share capital of DEF Co for P990,000 cash. The remaining was held by a shareholder who was unwilling to sell the share. DEF's net assets had a book value of P950,000 and a fair market value of P50,000 more than the carrying value when it was acqured by ABC. The Non-controlling interest using the full
10,000
10,500
9,000
9,900
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