Solution-What is the non-controlling interest in profit of

What is the non-controlling interest in profit of S Company

Reference no: EM133132675

Question - On January 02, 2018, P Corporation purchased 80% of S Company's ordinary shares for P648,000, P30,000 of the excess is attributable to goodwill and the balance to an equipment with an economic life of ten years. Non-controlling interest is measured at its fair value on date of acquisition. On the date of acquisition, stockholders' equity of the two companies were as follows:

	P Corporation	S Company
Ordinary shares	P1,050,000	P240,000
Retained earnings	1,560,000	420,000

On December 31, 2018, 5 Company reported net income of P105,000 and paid dividends of P36,000 to P. P reported earnings from its separate operations of P285,000 and paid dividends of P138,000. Goodwill had been impaired and should be reported at P6,000 on December 31, 2018. What is the non-controlling interest in profit of S Company on December 31, 2018?

Reference no: EM133132675

Questions Cloud

Calculate the capital per worker : a) Calculate the "capital per worker" at the steady state b) Calculate the "output per worker" at the steady state

What is the stock current price : The required rate of return is Is = 10.5%, and the expected constant growth rate is g = 6.5%. What is the stock's current price

Identify the most likely aetiology of freds cva : Identify two other risk factors that Fred has that may contribute to a CVA and Identify two other risk factors that Fred has that may contribute to a CVA

How much is the equity of gene in the partnership : On the date of the retirement, the drawing account if Gene in the amount of P5,000. How much is the equity of Gene in the partnership on the date of retirement

What is the non-controlling interest in profit of S Company : Goodwill had been impaired and should be reported at P6,000 on December 31, 2018. What is the non-controlling interest in profit of S Company

Facebook and twitter be useful in workplace environment : How might Facebook and Twitter be useful in a workplace environment? What are some possible drawbacks? Would you "friend" a co-worker? supervisor?

Difference between duty to warn and duty to protect : Think about the difference between the duty to warn and the duty to protect. Should states have laws that mandate when these duties come into effect?

Microeconomic household theory of fertility : State the main assumptions underlying the Microeconomic Household theory of fertility. Why the theorydoes not sufficiently explain fertility growth rate in many

What proportion of the company capital structure is : If Bulldogs Inc.'s weighted average cost of capital is 6.50%, what proportion of the company's capital structure is in the form of long-term debt

User Account

All Pages

What is the non-controlling interest in profit of S Company

Reference no: EM133132675

Reference no: EM133132675

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT