Less Amortization of allocated excess P 50000 Multiplied by Non controlling

Less amortization of allocated excess p 50000

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Less: Amortization of allocated excess 0 P 50,000 Multiplied by: Non-controlling interest % .......... 30% Non-controlling Interest in Net Income (NCINI) - partial goodwill P 15,000 Less: NCI on goodwill impairment loss on full-goodwill . . . . . . . . . . . . . . . . . . . . . 0 Non-controlling Interest in Net Income (NCINI) – full goodwill . . . . . . . . . . . . . P 15,000 52. b Consolidated Net Income for 20y0 P Company’s net income from own/separate operations…………. P 162,000 Realized gain on sale of equipment (downstream sales) through depreciation ___0 P Company’s realized net income from separate operations*…….….. P 162,000 S Company’s net income from own operations…………………………………. P 45,000 Unrealized loss on sale of equipment (upstream sales) Realized loss on sale of equipment (upstream sales) through depreciation ( 5,000) S Company’s realized net income from separate operations*…….….. P 40,000 40,000 Total P202,000 Less: Amortization of allocated excess…………………… 0 Consolidated Net Income for 20y0 P202,000 Less: Non-controlling Interest in Net Income* * 7,500 Controlling Interest in Consolidated Net Income or Profit attributable to equity holders of parent – 20y0………….. P194,500 *that has been realized in transactions with third parties. Or, alternatively Consolidated Net Income for 20y0 P Company’s net income from own/separate operations…………. P 162,000 Realized gain on sale of equipment (downstream sales) through depreciation ___0 P Company’s realized net income from separate operations*…….….. P 162,000 S Company’s net income from own operations…………………………………. P 45,000 Unrealized loss on sale of equipment (upstream sales) Realized loss on sale of equipment (upstream sales) through depreciation ( 5,000) S Company’s realized net income from separate operations*…….….. P 40,000 40,000 Total P202,000
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Less: Non-controlling Interest in Net Income* * P 7,500 Amortization of allocated excess…………………… ____0 7,500 Controlling Interest in Consolidated Net Income or Profit attributable to equity holders of parent………….. P194,500 Add: Non-controlling Interest in Net Income (NCINI) _ _ 7,500 Consolidated Net Income for 20y0 P202,000 *that has been realized in transactions with third parties. **Non-controlling Interest in Net Income (NCINI) for 20y0 S Company’s net income of Subsidiary Company from its own operations (Reported net income of S Company) P 30,000 Unrealized loss on sale of equipment (upstream sales) Realized loss on sale of equipment (upstream sales) through depreciation ( 5,000) S Company’s realized net income from separate operations……… P 25,000 Less: Amortization of allocated excess 0 P 25,000 Multiplied by: Non-controlling interest % .......... 30% Non-controlling Interest in Net Income (NCINI) - partial goodwill P 7,500 Less: NCI on goodwill impairment loss on full-goodwill . . . . . . . . . . . . . . . . . . . . . 0 Non-controlling Interest in Net Income (NCINI) – full goodwill . . . . . . . . . . . . . P 7,500 53. d Eliminating entries: 1/1/20x5: date of acquisition Restoration of BV and eliminate unrealized gain Building 3,000 Gain 8,250 Accumulated depreciation 11,250 Parent Books – Sky Subsidiary Books - Earth Cash 33,000 Building 33,000 Accumulated depreciation 11,250 Cash 33,000 Building 36,000 Gain 8,250 Sky, 7/1/20x4 Selling price P33,000 Less: Book value, 7/11/20x4
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