Bulls Corporation holds assets with a fair value of P150,000 and a book value of P125,000 and liabilities with a book value and fair value of P50,000. What balance will be assigned to the non-controlling interest in the consolidated balance sheet if Miami Company pays P90,000 to acquire 75 percent ownership in Bulls and goodwill of P20,000 is reported? 50,000 40,000 30,000 20,000

Bulls Corporation holds assets with a fair value of P150,000 and a book value of P125,000 and liabilities with a book value and fair value of P50,000. What balance will be assigned to the non-controlling interest in the consolidated balance sheet if Miami Company pays P90,000 to acquire 75 percent ownership in Bulls and goodwill of P20,000 is reported? 50,000 40,000 30,000 20,000

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations

Section: Chapter Questions

Problem 38P

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