the assets and liabilities of R were stated at their fair values when A acquired it's 80% interest and the fair value method was used to initially measure the NCI. A uses the cost method to account for its investment in R. Net income and dividends for 2021 for the affiliated companies were: A Corp. R Corp. Net Income P105,000 P31,500 Dividends paid 63,000 17,500 Dividends Payable, 1/1 20,000
29. the assets and liabilities of R were stated at their fair values when A acquired it's 80% interest and the fair value method was used to initially measure the NCI. A uses the cost method to account for its investment in R. Net income and dividends for 2021 for the affiliated companies were:
A Corp. R Corp.
Net Income P105,000 P31,500
Dividends paid 63,000 17,500
Dividends Payable, 1/1 20,000 9,250
Dividends Payable 12/31 31,500 8,750
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