riod, Venus sold to Highlands a noncurrent asset for P 1,000. The asset's original cost was P 2,500 and on December 31, 2021 its carrying amount in Venus books was P 800. The group's consolidated statement of financial position has been drafted without any adjustments in relation to its non-current asset. Under PAS consolidated and separate financial statements, what adjustments should be made to the consolidated statement of financial position figures for non-current assets and non-controlling interest? Non-Current Assets Non-Controlling Interest A. Increase by P 1,500 Increase by P 525 B. Reduce by P 200 No change C. Reduce by P 200 Reduce by P 70 D. Increase by P 1,500 No change
Richway Company owns 65% of the Highlands Company. On December 31, 2021, the last day of the accounting period, Venus sold to Highlands a noncurrent asset for P 1,000. The asset's original cost was P 2,500 and on December 31, 2021 its carrying amount in Venus books was P 800. The group's consolidated
Under PAS consolidated and separate financial statements, what adjustments should be made to the consolidated statement of financial position figures for non-current assets and non-controlling interest?
Non-Current Assets Non-Controlling Interest
A. Increase by P 1,500 Increase by P 525
B. Reduce by P 200 No change
C. Reduce by P 200 Reduce by P 70
D. Increase by P 1,500 No change
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