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21. Parent company acquired 15% of subsidiary company's common stock for 500,000 cash and carried the investment using the cost method. A few months later,
21. Parent company acquired 15% of subsidiary company's common stock for 500,000 cash and carried the investment using the cost method. A few months later, Parent purchased another 60% of Subsidiary's stock for P2,160,000. At that date, Subsidiary had identifiable assets of P3,900,000 and a fair value of P5,100,000, and had liabilities wit a book value and fair value of P1,900,000. The fair value of the 25% non-controlling interest is P900,000?
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