Reference no: EM132996767
Question - The Eastern Company acquired an 80% interest in the Western Company when Western's equity comprised share capital of P100,000 and retained earnings of P500,000. Western'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 amount in respect of Western's retained earnings should be included in the consolidated statement of financial position?
-The following summarized balance sheets were prepared for Tik Co. and Tok Co. on December 31, 2016 prior their combination. Tik Tok
Total Assets 120,000 12,000
Liabilities 41,200 6,600
Common stock, P10 par value 10,000 1,000
Additional paid-in capital 36,000 2,400
Retained earnings 32,800 2,000
The building at net, reported by Tok has a carrying amount of P5,000 and a fair market value of P10,000 at the time of consolidation. Assuming Tik Co. paid P15,000 cash to acquire 100% of the common stock of Tok, what will be the amount of goodwill that would be shown on the consolidated balance sheet?
Get Co. purchased 75% of Well Co. for P45,000,000. The fair value of identifiable net assets was P95,000,000 and the fair value of the liabilities and contingent liabilities amounted to P47,000,000. What would be the amount of goodwill associated to non-controlling interest of Well Co?
-Using information from no. 3, what is the total goodwill of the parent and the subsidiary?
-What is the amount of goodwill associated with Get Co. in no. 3.
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