QUESTIONS:1. What is the total non-controlling interest in net income of subsidiary (NCINI5) on Dec 31, 20x5?2. What is the amount of consolidated assets on Dec 31, 20x5? On January 1, 20x5, Paz acquired 80% of Shey outstanding ordinary shares forP950.000, Paz uses the cost method to record the investment account. The statementat financial position of Paz and Shey on December 31, 20x1 are as follows:PazSheyCash2.500.000 1.000.000Accounts receivables500.000 250,000InventoryB00,000 200,000Investment in Shey950.000Land2,000,000 -Building - net1.200.000 -Equipment - net600,000 500,000Total8.550.000 1.950,000Current liabilities750,000 500,000Ordinary shares3,000,000 650,000Share premium500,000 100,000Retained earnings4,300,000 700,000Total8.550,000 1.950.000On January 1. 20x5, the assets and labities at book value of Shey approximates its fairvalue except for the inventory and equipment which is undervalued by P50.000 andP20.000, respectively,. The equipment has a remaining usetul lite of 5 years. Pazmeasures the NCI at proportionate share basis.On December 31. 20x5, Paz reported net income of P1,000,000 and paid dividends oftP400.000 while Shey reported net income of P400,000 and paid dividend of P80.000to Paz.What is the total non controlling interest in net income of subsidiary INCINISI onDecember 31, 20x5?O 69.200O 276 B00O P0,800B0,000

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What is the total non-controlling interest in net income of subsidiary (NCINI5) on Dec 31, 20x5?

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Chapter1: Financial Statements And Business Decisions

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

QUESTIONS:

1. What is the total non-controlling interest in net income of subsidiary (NCINI5) on Dec 31, 20x5?

2. What is the amount of consolidated assets on Dec 31, 20x5?

On January 1, 20x5, Paz acquired 80% of Shey outstanding ordinary shares for
P950.000, Paz uses the cost method to record the investment account. The statement
at financial position of Paz and Shey on December 31, 20x1 are as follows:
Paz
Shey
Cash
2.500.000 1.000.000
Accounts receivables
500.000 250,000
Inventory
B00,000 200,000
Investment in Shey
950.000
Land
2,000,000 -
Building - net
1.200.000 -
Equipment - net
600,000 500,000
Total
8.550.000 1.950,000
Current liabilities
750,000 500,000
Ordinary shares
3,000,000 650,000
Share premium
500,000 100,000
Retained earnings
4,300,000 700,000
Total
8.550,000 1.950.000
On January 1. 20x5, the assets and labities at book value of Shey approximates its fair
value except for the inventory and equipment which is undervalued by P50.000 and
P20.000, respectively,. The equipment has a remaining usetul lite of 5 years. Paz
measures the NCI at proportionate share basis.
On December 31. 20x5, Paz reported net income of P1,000,000 and paid dividends oft
P400.000 while Shey reported net income of P400,000 and paid dividend of P80.000
to Paz.
What is the total non controlling interest in net income of subsidiary INCINISI on
December 31, 20x5?
O 69.200
O 276 B00
O P0,800
B0,000

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