Solution-How much is total consolidated assets on date of

How much is total consolidated assets on date of acquisition

Reference no: EM133066725

Question - On January 1, 2022, MICROSOFT Corp purchased interest in EXCEL Co (95% ownership, P1,400,000 cost if investment). On this date, the book values and fair values of EXCEL were as follows:

	BOOK VALUE	FAIR VALUE
CASH	P400,000	P400,000
ACCOUNTS RECEIVABLE	500,000	P400,000
INVENTORY	825,000	900,000
PPE	1,050,000	950,000
CURRENT LIABILITIES	315,000	300,000
NON - CURRENT LIABILITIES	730,000	800,000
ORDINARY SHARE CAPITAL	500,000
SHARE PREMIUM	100,000
RETAINED EARNINGS	1,140,000

Non controlling interest is measured using the proportionate method.

If MICROSOFT total assets in its separate books is P10,000,000, how much is total consolidated assets on date of acquisition?

Reference no: EM133066725

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How much is total consolidated assets on date of acquisition

Reference no: EM133066725

Reference no: EM133066725

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