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Company GHI acquired 80% of Company JKL for P5,000,000, carrying value of Company JKL net...

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Accounting

Company GHI acquired 80% of Company JKL for P5,000,000, carrying value of Company JKL net assets at time of acquisition being P3,000,000 and fair value of these net identifiable assets being P4,000,000. compute the amount of non-controlling interest arising on consolidation using the proportionate basis.

a. 600,000

b. 1,250,000

c. 800,000

d. 1,000,000

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