ANSWER THE FOLLOWING AND INCLUDE STEP BY STEP EXPLANATION:

ASSIGNMENTS: SUBSEQUENT TO DATE OF ACQUISITION BReButted 187 30 Bowe: Fr,030 relalac #8 the In3are: walks of sandy: Imet ery, ManBy 8life and 81 3014 wex pals Buring 3013. The land is which this allierams relaian WEW 868 :Eld Bluring The yes forBlanks pan. The americatian al the = no enHe is sing YBer 3018, Sandy 1378 138 no nerProblem 2 The following are selected account balances from Cheela Company and Jarjar Corporation ow of December 31, 2018: Cheela Revenue: P 980,000 P 540,000 Expenses 560,000 420,000 Dividend Income 84,000 Dividend: Paid 112.000 34,000 Accumulated profit:, 1/1/18 340.000 280.000 Current Assets 560,000 700,000 Building [net) 1,260,000 560,000 Equipment [net) 840,000 1,400,000 Investment in Jarjar Corp. Liabilities 700,000 1,932,000 840.000 280.000 Ordinary Shares [P20 par) (P10 par] Share Premium 210.000 112/000 On January 1, 2018, Cheela acquired all of the outstanding shores of Jarjar for P298, 000 in cash and ordinary shares. Cheela also pays P24, 000 in lawyers' fees and other combination costs of well o: P14, 000 in shore issuance costs. At the date of acquisition, Jorjor's buildings with a six- year remaining life) have a Pad, 000 book value and a foir morket value of P784, 000. Required: Prepare the consolidated statements worksheet and present all elimination entries that would have been included in the consolidated statements worlhest to prepare a full set of consolidated financial statements for the year 2018.Froblem 3 The Nothon Company acquired all of the outstanding shock of Coleb Compony on January 1, 3014 for F/47, 800 cash. Colab had a book value of only P182, 000 on thot dote. However, agulpmant (having on alight-yeor If8) Is undervalued by 850, 000 on Colab's finand ol record. A bulding with a 20-year Me wos overvalued boy P13. 000. Subsequent to the osqulation, Colab reported the following: Net Income Dividones Feld 3014 P 45,000 P 13,000 3015 52 000 39.000 36.000 In accounting for this Investment, Nothon how used the cost method. Selected oscounts tokan from the "Inangle records of these two companies of of December 31, 2018, are as folows: Nathan Colab Comport Compony Revenues - Operating 8403,000 P135 300 Expenses 357 400 36.300 Egulpman: (net) 41 6.000 48.000 Building Inet 584000 BE,400 Ordinary Shore 377000 45.000 Accumulated profits 523000 308.000 Requrect Determine the following account belonoes os of December 31, 2018. 1. No" Income Affibutable to Egulty Holders of the Parent 2. Norcontrolling Interest In Net Income of Buladolary Consolidated Net Income Consolidated Buildings (nett] Consolidated Goodwill (hat) Consolidated Ordinary Shores Consolidated Accumulated FroffsProblem 4 Joyce Corporation acquired 60 percent ownership of Ria Company on January 1, 2014 for P525, 000. The purchase differential was assignable entirely to a depreciable asset with a remaining economic life of 10 years at the date of acquisition. On that date, the following amounts were reported in the shareholders' equity by Rig Company Ordinary Shares P300, 000 Capital in Excess of par value 150,000 Accumulated profits 300,000 In the consolidated statement of financial position prepared as of December 31, 2017, the non-controlling interest was reported at P348, 000. Joyce reported operating income of P150, 000 during the 4-year period and paid dividends of P67, 500. Joyce had accumulated profits of P900, 000 on the date of combination. Required: Determine the consolidated accumulated profits as of December 31, 2017