The separate statements of comprehensive income of AntonioCompany and its 90% owned subsidiary, Tony Company, for the yearended December 31, 2021 show the following:
AntonioCompany TonyCompany
Comprehensiveincome P108,000 P20,000
Dividendincome 18,000
The following additional data shall apply:
• On January 1, 2020, Tony Company purchased a building,with a book value of P100,000 and an estimated 20-year life, fromAntonio for P180,000. The building was being depreciated on astraight-line basis with no salvage value.
• On January 1, 2021, Tony Company sold a machine with abook value of P50,000 to Antonio Company for P60,000. The machinehad an expected life of 5 years and is being depreciated on astraight-line basis with no salvage value. Tony Company is a dealerfor the machine.
1. On December 31, 2021, what is the consolidated comprehensiveincome?
2. Using the same data, on December 31, 2021, what is theconsolidated comprehensive
income attributed to controlling interest?
The separate statements of comprehensive income of Antonio Company and its 90% owned subsidiary, Tony Company, for the y
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answerhappygod
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