question archive How much is the net income attributable to non-controlling interest? * CQ On January 2, 2020, Popsters Corporation purchased 80% of SG Corporation's ordinary shares for P648,000
How much is the net income attributable to non-controlling interest? * CQ On January 2, 2020, Popsters Corporation purchased 80% of SG Corporation's ordinary shares for P648,000
Subject:AccountingPrice: Bought3
How much is the net income attributable to non-controlling interest? * CQ On January 2, 2020, Popsters Corporation purchased 80% of SG Corporation'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: Popsters SG Share Capital 1,050,000 240,000 Retained Earnings 1.560.000 420,000 On December 31, 2020, Subsidiary reported net income of P105,000 and paid dividends of P36,000 to Parent. Parent 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, 2020.
