Cliff Burton Co. holds 20,000 shares of Anesthesia, Inc. as investment in equity securities measured at fair value through other comprehensive income. During the period, Cliff Burton received the following from Anesthesia: •Cash dividend of P20 per share. •Property dividend in the form of inventory. THe inventory is carried in the books of Anesthesia, Inc. at P260,000. The fair value of the inventory is P240,000. • 2,000 shares representing 10% share dividend with aggregate par value of P200,000 and fair value of P260,000. Requirements: Provide the journal entries

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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.