Consolidated Comprehensive Income Calculation

1. On December 31, 2021, what is the consolidated comprehensive income?

2. Using the same data, on December 31, 2021, what is the consolidated comprehensive income attributed to controlling interest?

1. On December 31, 2021, what is the consolidated comprehensive income?

Thus, consolidated comprehensive income can be calculated by adding comprehensive income of both companies, which is P108,000 + P20,000 = P128,000. Therefore, the consolidated comprehensive income is P128,000.

2. Using the same data, on December 31, 2021, what is the consolidated comprehensive income attributed to controlling interest?

Therefore, the controlling interest's share of the comprehensive income of the subsidiary is 90% of P20,000, which is P18,000. The controlling interest's share in consolidated comprehensive income is obtained by deducting the non-controlling interest's share in the comprehensive income of the subsidiary, which is P2,000 (i.e., P20,000 - P18,000), from the consolidated comprehensive income. Therefore, the controlling interest's share in consolidated comprehensive income is P128,000 - P2,000 = P126,000.