Assume that Company A acquires 70 per cent of Company B for a cash price of $14 million when the share capital and reserves of Company B are: Share capital$8 millionRetained earnings$2 million $10 millionPass the necessary consolidation journal entries and the journal entries to record the non-controlling interest if the non-controlling interest in the acquirer is measured at the non-controlling interest’s proportionate share of the acquiree’s identifiable net assets

Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

A: PROMDI CO. acquired the net assets of CARDO CO and SYANO CO PROMDI CO issues  CARDO CO = 30000…

Q: What amount should be recorded as goodwill on the date of the purchase?

A: Goodwill on the date of acquisition = Purchase consideration - Fair value of assets acquired.

Q: Consolidated Equity at the date of acquisition

A: Goodwill is an intangible asset that is related to the takeover of one company by another. In fact,…

Q: Assume that Company A acquires 70 per cent of Company B for a cash price of $14 million when the…

A: Given, Cash price = $14 million

Q: Assume that Company A acquires 70 per cent of Company B for a cash price of $14 million when the…

A: The question is based on the concept of Consolidated Financial Statement. As per Bartleby Guidelines…

Q: Assume that Company A acquires 70 per cent of Company B for a cash price of $14 million when the…

A: Note: Since you have posted a question with multiple sub-parts, we will solve first three subparts…

Q: Par Company acquires 100% of the common stock of Sub Company for an agreedupon price of $900,000.…

A: Introduction:   Consolidation is a process in which financial statements of subsidiary is merged…

Q: Parent Company purchases 80% of the outstanding shares of Subsidiary Company for P9,000,000. The…

A: Goodwill:   It is an intangible asset. It is the value of the company over the value of all assets…

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Q: ABC Company paid P2,000,000 for a 70% interest in XYZ Co. on January 1, 2022. ABC Company elected to…

A:

Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

A: PROMDI CO. acquired the net assets of CARDO CO and SYANO CO Purchase consideration of CARDO CO =…

Q: The Elf Co. acquired a 60% interest in the Pea Co. when Pea's equity comprised share capital of…

A: Non –controlling interest: Non-controlling interest can be defined as a portion of the shareholder’s…

Q: If CARDO Co purchases the net assets of SYANO Co by issuing 5,000 shares of their P10 par value…

A: Calculation of Consolidate Total Liabilities at the date of Acquisition:

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A: Workings: 1) Share of Growth corporation in Expanded = 70 % = 7 /10th and share of non-controlling…

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A: Goodwill is referred to as amount which exceeds the fair value of assets and liabilities assumed by…

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A: Goodwill in consolidation = Cost paid by Parent for investment in subsidiary - Parent's share in…

Q: On January 3, 2022, P Company acquired 70% interest in S Company for P4,200,000. Consideration…

A: Solution Non - controlling interest  is an ownership position whereby a shareholder owns less than…

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A: Non-Controlling interest- When a company purchases the business of other entity/company partly or…

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A: Pre-acquisition Earning: The money generated by the firm before the purchase date is referred to as…

Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

A: PROMDI CO. acquired net assets of CARDO CO. and SYANO CO. Purchase consideration of CARDO CO. =…

Q: rchases 80% of the outstanding shares of S Company for P9,000,000. The carrying value of S Company's…

A: Goodwill is the additional cost incurred by the parent company to acquire the shares of subsidiary…

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Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

A: PROMDI CO. acquired net assets of CARDO CO. and SYANO CO. Purchase consideration of CARDO CO. =…

Q: etermine the amount of goodwill (or bargain purchase) arising out of the acquisition if the purchase…

A: Partnership: This is the form of business entity which is formed by an agreement, owned and managed…

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Q: Assume that Company A acquires 70 per cent of Company B for a cash price of $14 million when the…

A: Company A acquired 70% of Company B Cash price paid = $14 million The share capital of Company B= $8…

Q: On January 3, 2022, P Company acquired 70% interest in S Company for P4,200,000. Consideration…

A: Solution Net income refers to amount of individual or business makes after deducting cost ,…

Q: High Company purchased for cash at P50 per share all 150,000 ordinary shares outstanding of another…

A: >Intangible assets are the assets that cannot be seen or touched and have no physical existence.…

Q: ompany A acquires 70 per cent of Company B for a cash price of $14 million when the share capital…

A: Consolidated statement of financial position Note: Since you have posted a question with multiple…

Q: (b) Determine the amount of goodwill (or bargain purchase) arising out of the acquisition  (c) Pass…

A: c. b.

Q: ompany Aero is about to acquire 100% of company Berry.  Company Berry has identifiable net assets…

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A:

Q: TRICKY Company acquires 25% of JOKER Corporation’s ordinary shares for P190,000 cash and carries the…

A: Goodwill is an intangible asset that accounts for the excess purchase price of another company.…

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A: "Since you have asked a multiple subpart question, the first three subquestions will be solved. If…

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A: On 01.07.2020, Willow Ltd acquired Tree Ltd = 100% At acquisition date, Retained earnings = $52000…

Q: ssume that Company A acquires 70 per cent of Company B for a cash price of $14 million when the…

A: Solution: Calculation of goodwill when NCI is measured at Fair Value: Fair value of Consideration…

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Q: 3. On January 1, 2018, Hina Company acquired as a long-term investment a 20% ordinary share interest…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given, then first question is to be…

Q: Roland acquires 70% of Felix on January 1, 2011. The terms of purchase are that Roland pays to Felix…

A: Since you have posted a question with multiple sub-parts , we will do the first three sub-parts for…

Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: On January 3, 2022, P Company acquired 70% interest in S Company for P4,200,000. Consideration…

A: A non-controlling interest, also known as a minority interest, is an ownership position whereby a…