NCI in the consolidated FS for the year 2019.

Q: n January 1, 2021, ABC Company sold machinery to MNO, its wholly-owned subsidiary for P450,000. The…

A: Depreciation represents the reduction in the value of the long-term asset of the company over a…

Q: On January 2, 2021, Harry Co. acquired 60% interest in Louis Corp. for P360,000. Information on…

A: Consolidation indicates a situation where two corporations combined their resources through…

Q: On January 1. 2021, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $180,000 in…

A: A consolidated financial statement is inclusive of all the subsidiary companies where the owner has…

Q: On April 1, 2020, Republic Company sold equipment to its wholly owned subsidiary, Barre Corporation,…

A: Working Note: 1. The original cost of the asset is = $60,000 2. The Accumulated depreciation is =…

Q: 10% share dividend on December 31, 2021. The entity elected to use the equity method in accounting…

A: Equity method is an accounting technique used by a company to record the profits made by its…

Q: Prime Corp acquired 90% of the outstanding ordinary share of Bee Company. On March 31, 2030, Prime…

A: In the context of the given question, Prime Corp acquired 90% of the outstanding ordinary share of…

Q: On January 1, 2020, Graham Co. acquired 40% of the outstanding voting common shares of Lenore Co.…

A: In the given case the company has only acquired 40% stake in the company it will be accounted as an…

Q: On January 1, 2020, Pet Company purchased 80% of the shares of Sam value. The shareholders' equity…

A: SOLUTION ORDINARY SHARES  ARE ALSO KNOWN COMMON SHARES , ARE STOCKS SOLD ON PUBLIC EXCHANGE. EACH…

Q: On July 1, 2020, GREEN Company acquired 20% of the outstanding ordinary shares of another entity for…

A: Investment can be defined as allocation of excess fund for gaining returns in future. The investment…

Q: On January 1 2020, Philippine Airlines purchased 20% of Cebu Pacific's total outstanding ordinary…

A: Introduction: If an investor acquires between 20 to 50% stake in the investee company then it is…

Q: POM acquired 80% of the share of SOM for $26,550 on 1 Jan 2019, the date of acquisition (DOA). At…

A: 1. Calculation of Goodwill on the acquisition of SOM Net assets value of SOM is Share capital+…

Q: How much gain from the sale of equipment must be reported in the consolidated income statement of Pe…

A: On January 1, 2021, Pe Inc. purchased Ra Corp. for P1,500,000 for 100% ownership of its common…

Q: On July 1, 2020, GREEN Company acquired 20% of the outstanding ordinary shares of another entity for…

A: Subsidiary Company -:A Subsidiary company subsidiary is simply a company or also referred to as a…

Q: On January 1, 2022, Company A acquired 90% of outstanding ordinary shares of Company B at a price of…

A: Separate Financial Statements (SFS) shall be presented by the Parent entity i.e., an Investor who…

Q: Nizwa Corp maintains the investment account in Al Izz Corp using the equity method. During 2019, Al…

A: Investment balance amount shown is step 2

Q: Prime Corp acquired 90% of the outstanding ordinary share of Bee Company. On March 31, 2030, Prime…

A: Prime acquired 90% of the shares of Bee Co.   So Prime is holding…

Q: On January 1, 2020, Alison, Inc., paid $77,000 for a 40 percent interest in Holister Corporation’s…

A: Investment is the process of generating income in the near future by investing in an asset which is…

Q: On January 1, 2021, ABC Company sold machinery to MNO, its wholly-owned subsidiary for P450,000. The…

A: Depreciation is the decrease in the book value of the tangible asset which gives benefit for more…

Q: On January 3, 2021, ABC acquired 60% of the outstanding shares of JKL an excess of cost over book…

A: The companies have opted for business combination and the net income is allocable to the companies…

Q: Paul Company acquired 60% of Smith Company for $480,000 on January 1, 2019. On that date the…

A: Step 1 Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for…

Q: Pag ibig Corporation acquired 75% of outstanding stocks of Sagigilid Company on January 1, 2019, for…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…

Q: What is the Consolidated net income or group profit for the year ended December 31, 2020? 2). What…

A: Consolidated net income is the combined net income earned by the parent entity from the business…

Q: On January 1, 2021, ABC Company sold machinery to MNO, its wholly-owned subsidiary for P450,000. The…

A: Depreciation represents the reduction in the value of the long-term asset of the company over a…

Q: At the beginning of 2019, Metatec Inc. acquired Ellison Technology Corporation for $580 million. In…

A: Book value carried on in the books of Ellison does not hold value to Metatec Inc. The value to be…

Q: On July 1, 2020, Ron Company purchased 25% of Buck Company's ordinary shares. No goodwill resulted…

A: As per the equity method of accounting for investment in associates the investor's share in…

Q: On July 1, 2020, GREEN Company acquired 20% of the outstanding ordinary shares of another entity for…

A: Investment income is the income generated on the investment made by the company in the other company…

Q: On January 1, 2021, ABC Company sold machinery to MNO, its wholly-owned subsidiary for P450,000. The…

A: Depreciation expense is associated with the fall in the value of an asset periodically because of…

Q: On January 3, 2021, ABC acquired 60% of the outstanding shares of JKL an excess of cost over book…

A: The profit attributable to the parent entity is determined based on the adjusted net income of the…

Q: Plum Corporation acquired 80% of Slum Co. for P 5,000,000 on January 2, 2019. On this date, Slam Co.…

A:

Q: On July 1, 2020, GREEN Company acquired 20% of the outstanding ordinary shares of another entity for…

A: Associate company is a business that is having influence or interest over the company between…

Q: On January 2, 2019, Peace Co. acquired 80% of the outstanding common stock of Shade Co. for…

A: Working note: Computation of additional depreciation or savings in depreciation:

Q: On January 2, 2021, ABC Co. acquired 60% interest in DDD Corp. for P360,000. Information on DDD…

A: At the time of acquisition identified assets and liabilities are recorded in the books of the parent…

Q: On July 1, 2020, GREEN Company acquired 20% of the outstanding ordinary shares of another entity for…

A: Investments: An investment is considered an asset. It is an amount invested by the investor in PPE…

Q: On January 2, 2019, Peace Co. acquired 80% of the outstanding common stock of Shade Co. for…

A: A consolidated financial statement is the part of the financial statement where the accounts of the…

Q: On January 2, 2021, ABC Co. acquired 60% interest in DDD Corp. for P360,000. Information on DDD…

A: The merger is a process in which the acquirer company obtains control over the acquiree company.…

Q: On January 3, 2021, ABC acquired 60% of the outstanding shares of JKL an excess of cost over book…

A: The profit attributable to the parent entity is determined based on the adjusted net income of the…

Q: On January 2, 2019, ABC Co. acquired 80% of the outstanding common stock of Shade Co. for ₱1,344,000…

A: Consolidated financial statements are a set of financial statements prepared for a group company…

Q: January

A: book value of machine sold = P230,000 Cost of machinery  = P560,000 no. of useful life = 5 year…

Q: What is the amount of comprehensive attributable to the controlling interest in 2020?

A: The calculation of amount of comprehensive attributable income to the controlling interest in 2020…

Q: ompany's net assets. P13,000 of the excess is attributed to an undervalued equipment with a…

A:

Q: On January 1, 2019, GRANGER Co. acquired 80% interest in HISTORIA, Inc. by issuing 5,000 shares with…

A: Consolidated financial statements are those statements that states the cash flows, assets, expenses,…

Q: stment in associate on December

A: Investment is the amount which is spent by the producer for the purchase of those goods which…

Q: How much is the consolidated profit?

A: The question is related to Consolidated Financial Statement. The parent company (Harry co.) has…

Q: On April 30, 2020, Wings Company purchased for cash 18,000 of the 60,000 voting shares of Chicken…

A: Calculation of goodwill on the date of acquisition: Annual amortization of equipment = 30,000 / 5…

Q: On January 1, 2022, Lucas Company acquired 85% of outstanding shares of Luna Corp. The consideration…

A: Solution Non controlling interest is an ownership position wherein a shareholder owns less than 50%…

Q: On January 1, 2021, PLDT acquired 60% of outstanding ordinary shares of Smart Inc. with a gain on…

A: On 01.01.2021, PLDT acquired = 60% of outstanding shares of Smart Inc. Purchase consideration =…

Q: On July 1, 2020, GREEN Company acquired 20% of the outstanding ordinary shares of another entity for…

A: Carrying of book worth of the asset is the value which is recorded when the asset or any other…

Q: On January 3, 2021, ABC acquired 60% of the outstanding shares of JKL an excess of cost over book…

A: Solution: The profit attributable to the parent entity is determined based on the adjusted net…

Q: On January 1, 2019, Nakhon Company acquired 80% of Pathom Company's common stock for $28,000 cash.…

A: Comprehensive income of controlling interest is the total income of parent entity and profit share…

Q: On June 1, 2020, Straw Company acquired 20% equivalent to 20,000 shares of Berry Company for…

A: Introduction:- A controlling interest in a corporation is one that owns enough voting stock shares…

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.