Reference no: EM132762780
Question: On January 2, 2018, P Company purchased 80% of S Company's ordinary shares for P3,240,000. The P150,000 of the total excess (excess of FV of consideration and NCI over the book value of identifiable assets acquired) is attributable to goodwill and the balance to a depreciable asset with remaining useful life of 10 years. NCI is at its FV at the date of acquisition. On the date of acquisition, shareholders' equity of both companies are as follows:
Share Capital
P - 5,250,000
S - 1,200,000
Retained Earnings
P - 7,800,000
S - 2,100,000
On December 31, 2018, S Company had retained earnings of P2,400,000 after paying dividends of P180,000 to the acquirer. P Company reported earnings from its own operation of P1,425,000 and paid dividends of P690,000. Goodwill has been impaired and should be reported at P30,000.
Determine the following:
a. Consolidated Net Income
b. Consolidated Retained Earnings
c. NCI, beginning
d. NCI, end
|
Discuss the the effects of unrealistic interes rates
: Describe the different types of long term notes, the different parties to a note. Discuss the the effects of unrealistic interes rates.
|
|
Cloud computing by using bibliometrics
: your assessment on whether the United States need to introduce top talents in the field of big data and cloud computing by using bibliometrics.
|
|
What was the amount of techmart cost of goods sold
: TechMart reported sales of $52,386 million. Its gross profit was $13,097 million. What was the amount of TechMart's cost of goods sold?
|
|
Culture is ongoing negotiation of learned patterns
: Culture is an ongoing negotiation of learned patterns of beliefs, attitudes, values, and behaviors.
|
|
Determine the consolidated retained earnings
: On January 2, 2018, P Company purchased 80% of S Company's ordinary shares for P3,240,000. The P150,000 of the total excess (excess of FV of consideration).
|
|
Discuss the three options provided by the board
: Discuss the three options provided by the Board and select the best option. Discuss the discrepancy between the gross profit margin and net profit margin
|
|
Penetration testing techniques
: Do a bit of research on penetration testing techniques. Five network penetration testing techniques.
|
|
Discuss the risks and opportunities faced by the university
: How data from the financial statements can be used to access the financial performance of a business. Discuss the risks and opportunities faced by University.
|
|
What is the tax saving on the loss in book value
: An asset has a first cost of $22,000, an annual operating cost of $1000, an expected salvage value of $3000, and a life of 8 years. If the asset is sold three.
|