Company GHI acquired 80% of Company JKL for P10,000,000, carrying value of Company JKL net assets at time of acquisition being P6,000,000 and fair value of these net identifiable assets being P8,000,000. Compute the amount f non-controlling interest arising on consolidation (use the full/gross-up goodwill basis). a. 2,500,000 b. 1,600,000 c. 1,200,000 d. 3,000,000

Q: Determine the Consolidated/Group Net Income for 20x4

A: Net Income is described as the amount which is left with the organization after it has paid for the…

Q: 6. On April 1, X3, Yongquan Company acquired all the net assets of Qingquan Company by way of…

A:

Q: The consolidated balance sheet for P and S Companies on the date of acquisition will include: *…

A: The non-controlling interest (NCI) is a position of ownership where one holds even less than half of…

Q: Calculate the goodwill on consolidation from the information below: Parent’s cost of investment in…

A: Goodwill is an intangible asset which may be purchased or self-generated. It also arises when the…

Q: After the business combination on the basis of full-goodwill approach, what amount of goodwill will…

A: A business combination is a transaction wherein the acquirer gets control of another business.…

Q: Determine the Non-controlling interest in Net assests of subsidiary

A: The interest in which the parent company shares are hold by the subsidiary to the extent of only…

Q: . Goodwill arising from the consolidation if it is to be computed using the proportionate basis or…

A: Partial Goodwill-: In the Partial Goodwill procedure, the goodwill of the firm is evaluated as the…

Q: How much is the goodwill to be reported on the consolidated balance sheet on January 1, 2x19?

A: Calculation of Goodwill to be reported on the consolidated balance sheet on January 1, 2x19

Q: Parent Company purchases 80% of the outstanding shares of Subsidiary Company for P9,000,000. The…

A: Full goodwill includes both the goodwill for parent and non-controlling interest.

Q: Phlaire acquired 70 percent of Syanne on July 1, 20x5. Based on the purchase price, proportionate…

A: Upstream transaction is sale of goods by Subsidiary Co. to Parent Co. and Sales of goods by Parent…

Q: The amount of goodwill (gain from a bargain purchase) resulting from the business combination is 2.…

A: Step 1: Calculation of Identifiable Net Assets of Subsidiary Company Particulars Amount  Amount…

Q: goodwill or (gain on acquisition) arising on consolidation ace price?

A: Fair value of assets = P1,280,000  Less: Fair value of Liabilities = P716,000  Identifiable net…

Q: Company Coffee acquired 80% of Company Sugar for P10,000,000, carrying value of Company Sugar net…

A: Non controlling interest is a part of shareholders equity which is represented on consolidated…

Q: am. 102.

A: We can explain further as follows;Key Concepts1. Equity Method: The equity method is used by a…

Q: Assets Parent Subsidiary Company P 37,400 Company P' 36,900 34,200 22,900 179,000 Cash Accounts…

A: Goodwill arises on acquiring control in other entities if the payment of consideration exceeds the…

Q: Pencil Company purchases 80% of the outstanding shares of Eraser Company for P9,000,000. The…

A: Actual cost of acquisition = Cost of acquistion - Control premium= P6,000,000 -P400,000=P5,600,000…

Q: PC Illustration 1: Determination of goodwill NCZ A Limited acquires 80% of B Limited by paying cash…

A: Goodwill can be determined by: 1)Fair value method 2)Proportionate share method Non-controlling…

Q: 1.How much is the goodwill to be reported on the consolidated balance sheet on January 1, 2x19?…

A: Goodwill = Purchase Consideration + Non controlling Interest - Net Identifiable Assets…

Q: Determine the non-controlling interest in net assets of subsidiary in the year 20x6

A: Non-controlling interest is the is the ownership position of the holder with minority shares in the…

Q: Parent Corporation acquired all the identifiable net assets of Sub Company by issuing ordinary…

A: Herein above we need to first calculate the fair value of net asset acquired. Calculation of Fair…

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A: 1. Identifying the subsidiaries: Determining which entities should be included in the consolidation…

Q: compute the amount f noncontrolling interest arising on consolidation (use full/gross-up goodwill)

A: Non controlling interest or minority shareholders are those shareholdings which does not have…

Q: After the business combination on the basis of full-goodwill approach, what amount of investment in…

A: Goodwill:-It is an intangible asset for the company which appears on the Balance sheet of the…

Q: 29

A: INTRODUCTION: If one firm acquires the assets and liabilities of another, accounting for…

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.