PP Corp. Acquires 8,000 shares of SS Corp. For P800,000 cash on December 1, 2021. The...

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PP Corp. Acquires 8,000 shares of SS Corp. For P800,000 cash on December 1, 2021. The fair value of the non- controlling interest is assessed at P200,000. Just prior to acquisition, PP Corp and Subsidiary Corp. has the the following information: Cash Inventory Equipment Goodwill Liabilities Ordinary share, PS par Share Premium Retained Earnings PP Corp. 900,000 500,000 600,000 400,000 800,000 500,000 300,000 SS Corp (Book Value) 20,000 280,000 400,000 100,000 250,000 50,000 130,000 370,000 The inventories of SS Corp. and PP Corp. has a fair value of P400,000 and P550,000, respectively. The Equipment of SS Corp. is understated by P100,000. Compute the Consolidated Equity. PP Corp. Acquires 8,000 shares of SS Corp. For P800,000 cash on December 1, 2021. The fair value of the non- controlling interest is assessed at P200,000. Just prior to acquisition, PP Corp and Subsidiary Corp. has the the following information: Cash Inventory Equipment Goodwill Liabilities Ordinary share, PS par Share Premium Retained Earnings PP Corp. 900,000 500,000 600,000 400,000 800,000 500,000 300,000 SS Corp (Book Value) 20,000 280,000 400,000 100,000 250,000 50,000 130,000 370,000 The inventories of SS Corp. and PP Corp. has a fair value of P400,000 and P550,000, respectively. The Equipment of SS Corp. is understated by P100,000. Compute the Consolidated Equity.

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