How much is the carrying amount of the investment in associate on Dec31, 20x1

Q: 49 On May 1, 20x1, Sun Co. acquires additional 12,000 shares of Day Co. at P90 per share, the fair…

A: The question is related to Investment in Associates and is multiple choice question. Required…

Q: On January 1, 20x1, Pinup Corp. acquired 34,560 outstanding ordinary shares of Slug Corp. for a cash…

A: Number of shares of slug corporation = Paid up value/par value per share

Q: 49 On May 1, 20x1, Sun Co. acquires additional 12,000 shares of Day Co. at P90 per share, the fair…

A: The statements which are prepared to determine the actual position of the organization on a…

Q: On January 1, 20x1 Pinup Corp acquired 34,560 outstanding ordinary shares of Slug corp. for a cash…

A: Calculation of amount of non-controlling interest  are as follows.

Q: - On Sept. 1, 20x1, Lone Co. acquires 35% of the 100,000 qutstanding shares of Social Co. for…

A: Consolidation is the process of acquisition of a smaller company by a large company. When a company…

Q: ARIE Company acquired 30% of BARD Company’s voting share capital for P2,000,000 on January 1, 2017.…

A: As per the equity method, the investment in associates is recognized at cost and that value of the…

Q: Garrett Manufacturing owns 10% of the common stock of Timberline Corporation and used the fair-value…

A: Definition:   Investment securities: The debt or equity securities in which an investor receives, in…

Q: Grat Company acquired 30% of Suth Company’s voting share capital for P2,000,000 on January 1, 2017.…

A: The question is based on the concept of Financial Accounting.

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: Since the Parent acquired 30% interest in the Sub, the Sub is an associate enterprise. Accounting…

Q: 31. On January 1, 20x1, OBDURATE Co. acquired 30% ownership interest in STUBBORN, Inc. for P400,000.…

A: Goodwill is an intangible asset linked to the acquisition of a business by another. Goodwill is…

Q: Porky Co. owns 40% of Watwat, Inc.'s ordinary shares. On July 1, 20x2, Porky Co. sells half of its…

A: As per ASC 860 ,when there is sale accounting of shares or financial assests then a gain or loss…

Q: a. What net income would Ravine Corporation have reported for each of the years, assuming Ravine…

A: Net income is the income earned by an entity after paying tax and deducting all its expenses from…

Q: Adelman Company owns 45% of the outstanding voting common stock of Craig Corp. and has the ability…

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

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: When an investment in an entity increases and it is increased to the level that the investee company…

Q: Mino Corporation had the following investment at FVTPL at the beginning of the current year:…

A: XYZ CORPORATION     Shares Cost Carrying Amount Beginning 10,000 P1,000,000 P1,200,000 Feb 28…

Q: At the beginning of current year, Small company purchased 25% of Big Company. No "excess" resulted…

A: When one entity hold 20% or more of the share of the another entity then second mentioned entity…

Q: areholders' equity was P5,000,000. The carrying amount of Al's identifiable net assets approximated…

A: Carrying amount of investment = carrying amount + profit - dividend  = P2000000 + P800000 - P100000…

Q: On January 1, 20x1, ABC Co. acquired 80% interest in XYZ, Inc. by issuing 5,000 shares with fair…

A: Statement of financial position shows the total assets total liabilities and equity of an entity at…

Q: On January 1, 20X4, Pony Company acquired 25% of Stallion Company’s common stock at underlying book…

A: Option (C) $55,500 is the correct answer.

Q: On January 1, 20X7, Phillips Corporation acquired 35 percent of the outstanding shares of Shell…

A: The equity method of accounting shows the total investment in the associate…

Q: Pauline Company acquired 4,000 shares of the outstanding stock of Sophia Company for P1,200,000 on…

A: It is the net income of parent company of its own and share in subsidiary company. The share of…

Q: Gant Company purchased 20 percent of the outstanding shares of Temp Company for $70,000 on January…

A: The accounting approach of treating investments in affiliated corporations is known as the equity…

Q: On Dec. 4, 20x1, Brown Co. acquired 6,000 shares of Venice, Inc. for $50,000. Brown incurred…

A: Answer: On Dec. 31, 20x1, Gain or Loss would be: Purchase Price of 6,000 shares = $50,000 Add:…

Q: Henesto Company's investment account has the following transaction during the year: Jan. 10, 2020…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: On January 1, 2022 an SME acquired 25% of the equity of each of entities A and B for P1,000,000 and…

A: Excel formulas which are used to calculate the carrying amount of investments.

Q: How much is the carrying value of the  Investment in associate-Yellow  at Dec 31, 20X2? 2,372,000…

A: The ABC company has acquired 20% interest or shares of the Yellow company as on January 2, 20X1. ABC…

Q: On 1 January 20XO Alpha Co purchased 90,000 ordinary $1 shares in Beta Co for $270,000. At that date…

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

Q: Prepare the necessary journal entries to record the above How much is the carrying value of the…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: Flicker, Inc. acquired 30% of  West Company's voting shares for P 200,000 on January 2, 20x2.…

A: Whenever a company holds 20% to 50% of voting rights of another company, then equity method is…

Q: Renee Company invested in 60,000 shares of another entity for a total cost of P5,500,000 on January…

A: Right issue Right issue which has made the opportunity to the existing shareholders to purchase…

Q: On January 1, 20x1, APPRISE Co. acquired 50,000 newly issued shares of INFORM, Inc. at ₱40 per…

A: Answer No. Of Shares before acquisition = 100,000 New issued Shares = 50,000 Total share = 150,000 %…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: SOLUTION- GOODWILL IS THE VALUE OF BUSINESS THAT EXCEEDS ITS ASSETS MINUS THE LIABILITIES.

Q: 26. On January 1, B company paid $2,295,000 to acquire 90,000 shares of O company's voting common…

A: company "B" paid $2295000 to acquire 90000 shares of "O" company which represents 30% share.…

Q: Grat Company acquired 30% of Suth Company's voting share capital for P2,000,000 on January 1, 2017.…

A: In order to utilize the idle funds, the business entity invests them, so as to increase the value of…

Q: Colvis Corporation purchased an available-for-sale investment in 1,100 shares of Home Central shares…

A: Definition:

Q: Grat Company acquired 30% of Suth Company’s voting share capital for P2,000,000 on January 1, 2017.…

A: The question is based on the concept of Financial Accounting.

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: SOLUTION WORKING- HIGHER BETWEEN TWO: FAIR VALUE = 50000. FAIR VALUE PROPORTIONATE SHARE…

Q: Grat Company acquired 30% of Suth Company's voting share capital for P2,000,000 on January 1, 2017.…

A: The business entity invests their surplus funds so as to earn the return in the form of dividends or…

Q: Entity G acquired a 40% interest in Pokus Corp. for P1,700,000 on January 1,2021. The shareholders'…

A: Equity Method: The equity method of bookkeeping is the most common way of treating interests in…

Q: On 3 January 20X4, Windsor Company purchased 30% of the shares of Brampton for $746,000 cash.…

A: given   On 3 January 20X4, Windsor Company purchased 30% of the shares of Brampton for $746,000 cash…

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.…

Q: On January 1, 20x1, AAA Co. acquired 30% ownership interest in BBB, Inc. for ₱200,000. Because the…

A: Working note: Computation of non-controlling interest : Non-controlling interest=Fair value of net…

Q: On January 1, 20x1, Entity A acquires 25% interest in Entity B for P800,000. Entity B reports profit…

A: The carrying amount, also recognized as the carrying value, is indeed the asset's cost less…

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: On January 1, 2021, ABC Co. acquired 80% interest in XYz, Inc. by issuing 5,000 shares with fair…

A: An acquisition is the process of acquiring more than 50% of shares of one company by the other…

Q: Elements Co. had the following investment transactions: Dec. 3, Acquired 12,000 shares of Buffet…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: P Company acquired 70% of the ordinary shares of S Company at a time when S Company’s book values…

A: Consolidated cost of sales = Cost of sales of S + Cost of sales of P - Cost of sales by P to S

Q: Galaxy Company owned 30,000 ordinary shares of Grand Company acquired on July 31 at a total cost of…

A: The investors will invest in a company to earn profits from the investment. Before investing the…

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.