Paco, Inc. Acquired most of the outstanding common the stock of Sota Company for cash

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On June 1, 2011, Paco, Inc. Acquired most of the outstanding common the stock of Sota Company for cash. The incomplete working paper elimination entries on that date for the consolidated statement of financial position of Paco Inc., and its subsidiary are shown below: E(1) Stockholder’s Equity – Sota Company 290,70 0 Investment in Sota Company 247,09 5 NCI 43,605 E(2) Inventories 6,630 Equipment 48,450 Patent 7,650 Goodwill? Investment in Sota Company 69,955 NCI?

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Assuming NCI is measured at fair value, what is the amount of goodwill to be reported in the consolidated statement of financial position on June 1, 2011? a) P20,000 b) P19,570 c) P25,000 d) P10,000

Assuming NCI is measured at fair value. How much is the book value of the interest acquired by Paco Inc.?

Assuming NCI is measured at fair value. How much is the share of the NCI in the goodwill

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