Bale Co. acquired Silo Inc. on December 31, 2021, in an acquisition business combination transaction. Bale's net income for the year was $1,400,000, while Silo had net income of $400,000 earned evenly during the year. Bale paid $100,000 in direct combination costs, $50,000 in indirect costs, and $30,000 in stock issuance costs to effect the combination.   Required: What is consolidated net income for 2021?

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A: Goodwill can be define as an asset for a company which can not be touched or see instead of this it…

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A: SOLUTION GOODWILL IS AN INTANGIBLE ASSETS THAT ACCOUNTS EXCESS PURCHASE PRICE OF ANOTHER COMPANY.

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A: Solution:- 1)Preparation of journal entry to record the assets acquired and the liabilities assumed…

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A:

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A: Solution Requirements how much is the Goodwill arising from this Business Combination given…

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A:

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A:

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A: Controlling interest- A company or an individual is said to have controlling interest if it holds…

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A: Goodwill impairment loss=Carrying value of goodwill-Impaired fair value of goodwill

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A: Here in this question, we are required to calculate non controlling interest under full goodwill…

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A: Answer - 229,700