ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of non-controlling interest on the acquisition date consolidated balance sheet? * Book Value P40,000 170,000 Market Value P40,000 230,000 700,000 Cash Inventory Plant Assets (net) 620,000 220,000| 60,000 Cost of Goods Sold Depreciation Expense Liabilities (300,000) (300,000) (10,000) (450,000) (350,000) Common Stock Retained Earnings Sales Your answer

ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of non-controlling interest on the acquisition date consolidated balance sheet? * Book Value P40,000 170,000 Market Value P40,000 230,000 700,000 Cash Inventory Plant Assets (net) 620,000 220,000| 60,000 Cost of Goods Sold Depreciation Expense Liabilities (300,000) (300,000) (10,000) (450,000) (350,000) Common Stock Retained Earnings Sales Your answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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