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What figure in respect of Pulley retained earnings

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Reference no: EM132717241

Problem - The White Company acquired an 80% interest in The Pulley Company when Pulley's equity comprised share capital of P100,000 and retained earnings of P500,000. Pulley's current statement of financial position shows share capital of P100,000, a revaluation reserve of P400,000 and retained earnings of P1,400,000. What figure in respect of Pulley's retained earnings should be included in the consolidated statement of financial position?

A. P720,000

B. P1,440,000

C. P1,040,000

D. P1,520,000

Reference no: EM132717241

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