Tali Co. Acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities immediately after the acquisition are shown below: Tali Co. Wind Corp. Investment in Subsidiary (cost) Other Assets Assets 430,000 1,570,000 2,000,000 750,000 750,000 Liabilities Ordinary Share Capital Retained Earnings Liabilities and Stockholders' Equity 400,000 750,000 1,000,000 250,000 310,000 40,000 2,000,000 750,000 The fair value of Winds' assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is measured under the proportionate share method. How much is the consolidated total equity?
Tali Co. Acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities immediately after the acquisition are shown below: Tali Co. Wind Corp. Investment in Subsidiary (cost) Other Assets Assets 430,000 1,570,000 2,000,000 750,000 750,000 Liabilities Ordinary Share Capital Retained Earnings Liabilities and Stockholders' Equity 400,000 750,000 1,000,000 250,000 310,000 40,000 2,000,000 750,000 The fair value of Winds' assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is measured under the proportionate share method. How much is the consolidated total equity?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
a. 1,350,000
b. 1,290,000
c. 1,330,000
d. 1,600,000
![Tali Co. Acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities
immediately after the acquisition are shown below:
Tali Co.
Wind Corp.
Investment in Subsidiary (cost)
430,000
Other Assets
1,570,000
750,000
Assets
2,000,000
750,000
Liabilities
750,000
400,000
Ordinary Share Capital
Retained Earnings
1,000,000
310,000
250,000
40,000
Liabilities and Stockholders' Equity
2,000,000
750,000
The fair value of Winds' assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is
measured under the proportionate share method. How much is the consolidated total equity?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1f76926b-fc0e-472a-84b3-4b450cf42a9f%2Fb3e960a6-f8cb-4d77-ab6e-ac28174eb738%2Fgja03ys_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Tali Co. Acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities
immediately after the acquisition are shown below:
Tali Co.
Wind Corp.
Investment in Subsidiary (cost)
430,000
Other Assets
1,570,000
750,000
Assets
2,000,000
750,000
Liabilities
750,000
400,000
Ordinary Share Capital
Retained Earnings
1,000,000
310,000
250,000
40,000
Liabilities and Stockholders' Equity
2,000,000
750,000
The fair value of Winds' assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is
measured under the proportionate share method. How much is the consolidated total equity?
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education