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On January 1,2009, Pure Company acquired 80% interest in Sure Company for P2.000,000 cash. The stockholder's equity of Sure at the time of acquisition is
On January 1,2009, Pure Company acquired 80% interest in Sure Company for P2.000,000 cash. The stockholder's equity of Sure at the time of acquisition is P1,875,000. On January 1,2008, NCI is measured at its implied fair value. The excess of cost over the book value of interest acquired is allocated to the following assets: Inventories - P100.000 (sold in 2009) and Building - P200,000 (5-year remaining life). During 2009, Sure Company reported net income of P500,000 and paid dividends of P100,000. What is the Noncontrolling Interest in Net Assets of subsidiary on December 31,2009
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