Power Corporation purchased a 70% interest in Star Company on January 1, 2013 for P140,000, when Star’s stockholders’ equity consisted of P30,000 common stock, P100,000 additional paid-in-capital, and P200,000 retained earnings. Income and dividends data for Star are as follows: Net income (or loss) P50,000 Dividends 5,000 NCI is measured at fair value What is the NCI at December 31, 2013? P149,600 P148,000 P73,500 P151,370
Power Corporation purchased a 70% interest in Star Company on January 1, 2013 for P140,000, when Star’s stockholders’ equity consisted of P30,000 common stock, P100,000 additional paid-in-capital, and P200,000 retained earnings. Income and dividends data for Star are as follows: Net income (or loss) P50,000 Dividends 5,000 NCI is measured at fair value What is the NCI at December 31, 2013? P149,600 P148,000 P73,500 P151,370
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Power Corporation purchased a 70% interest in Star Company on January 1, 2013 for P140,000, when Star’s stockholders’ equity consisted of P30,000 common stock, P100,000 additional paid-in-capital, and P200,000 retained earnings . Income and dividends data for Star are as follows:
Net income (or loss) P50,000
Dividends 5,000
NCI is measured at fair value
What is the NCI at December 31, 2013?
- P149,600
- P148,000
- P73,500
- P151,370
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