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Abbreviated trial balances of Pingson Company and Singson Company at December 31, 2008 are shown below. Pingson acquired a 90% interest in Singson for P820,000
Abbreviated trial balances of Pingson Company and Singson Company at December 31, 2008 are shown below. Pingson acquired a 90% interest in Singson for P820,000 cash on January 1, 2008, when Singson's shareholders' equity consisted of P600,000 Ordinary Share Capital and P400,000 Accumulated Profits. Any difference between investment cost and book value acquired relates to equipment with a 10-year life from January 1, 2008. Non-controlling Interest in Net Assets at December 31, 2008 is?
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