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What is the amount of NCI on the acquisition date consolidated balance sheet? ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for

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What is the amount of NCI on the acquisition date consolidated balance sheet?

ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of non-controlling interest on the acquisition date consolidated balance sheet? * Market Value P40,000 230,000 700,000 Cash Inventory Plant Assets (net) Cost of Goods Sold Depreciation Expense Liabilities Common Stock Retained Earnings Sales Book Value P40,000 170,000 620,000 220,000 60,000 (300,000) (10,000) (450,000) (350,000) (300,000)

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