Tali Co. Acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities immediately after the acquisition are shown below: Tali Co. Wind Corp. Investment in Subsidiary (cost) Other Assets Assets 430,000 1,570,000 2,000,000 750,000 750,000 Liabilities Ordinary Share Capital Retained Earnings Liabilities and Stockholders' Equity 400,000 750,000 1,000,000 250,000 310,000 40,000 2,000,000 750,000 The fair value of Winds' assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is measured under the proportionate share method. How much is the consolidated total equity?
Tali Co. Acquired 80% of Wind Corp.'s voting rights. The statements of financial position of both entities immediately after the acquisition are shown below: Tali Co. Wind Corp. Investment in Subsidiary (cost) Other Assets Assets 430,000 1,570,000 2,000,000 750,000 750,000 Liabilities Ordinary Share Capital Retained Earnings Liabilities and Stockholders' Equity 400,000 750,000 1,000,000 250,000 310,000 40,000 2,000,000 750,000 The fair value of Winds' assets is P50,000 more than the aggregate carrying amounts. Non-controlling interest is measured under the proportionate share method. How much is the consolidated total equity?
Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations
Section: Chapter Questions
Problem 38P
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a. 1,350,000
b. 1,290,000
c. 1,330,000
d. 1,600,000
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