On January 1, 2021, PAY Company purchased 75% of the outstanding stock of MAYA Company at book value. During 2021 MAYA sold inventory items costing P100,000 to PAY for P150,000. PAY resold 60% of this inventory to outsiders during the year for P200,000. For the year 2021 PAY had CI from its own operations of P400,000 and paid dividends of P240,000. MAYA's CI for the year was P220,000; it paid P80,000 in dividends.

What is the consolidated CI attributable to parent for 2021?

Answer rating: 100% (QA)

To compute the consolidated CI attributable to parent for 2021 we need to prepare a consolidated inc... View the full answer