Less: A’s share in goodwill impairment - - Goodwill attributable to owners of A – Dec.

31, 20x1 48,000 202,400 Fair value of N

x1 48,000 202,400 Fair value of NCI (given) 100,000 160,000 Less: NCI's proportionate sh. in the net assets of B & C (₱440,000 x 20%) & (₱
ets of B & C (₱440,000 x 20%) & (₱240,000 x 51%) (88,000) (122,400) Goodwill attributable to NCI – Jan. 1, 20x1 Less: NCI’s share in good
1, 20x1 Less: NCI’s share in goodwill impairment Goodwill attributable to NCI – Dec. 31, 20x1 12,000 - 12,000 37,600 - 37,600 Goodwill, n
12,000 37,600 - 37,600 Goodwill, net – Dec. 31, 20x1 60,000 240,000 Step 4: Non-controlling interest in net assets Total 107,520 165,648
net assets Total 107,520 165,648 Add: Goodwill to NCI - 12/31x1 (Step 3) 12,000 37,600 Indirect holding adjustment (Step 3) (40,000) Ste
g adjustment (Step 3) (40,000) Step 5: Consolidated retained earnings A's retained earnings – Dec. 31, 20x1 600,000 Consolidation adjustm
0x1 600,000 Consolidation adjustments: A's share in the net change in B 's net assets (a) 78,080 A's share in the net change in C's net asse
e in the net change in C's net assets (b) 41,552 Unrealized profits (Downstream only) - Gain or loss on extinguishment of bonds - A's sh. in
tinguishment of bonds - A's sh. in goodwill impairment - Net consolidation adjustments Consolidated