How much is the consolidated stockholder equity

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Question - On January 2, 2021, the Statement of Financial Position of Parent and Subsidiary Company prior to the combination are:


Parent Co.

Subsidiary Co.

Cash

P450,000

P15,000

Inventories

300,000

30,000

Property and equipment (net)

750,000

105,000

Total Assets

P1,500,000

P150,000




Current Liabilities

P90,000

P15,000

Common Stock, P100 par

150,000

15,000

Additional Paid in Capital

450,000

30,000

Retained Earnings

810,000

90,000

Total Liabilities and Stockholders' Equity

P1,500,000

P150,000

The fair value of Subsidiary Company's equipment is P153,000.

Assuming Parent Company acquired 80% of the outstanding common stock of Subsidiary Company for P136,800 and NCI is measured at its proportionate share of subsidiary's net assets, how much is the consolidated stockholder's equity on the date of acquisition?

Reference no: EM133147368

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