Honda Company acquired 70% of the outstanding stock of Hyundai Co. on January 1, 2022. The consolidated balance sheet prepared immediately after the business combination contained the following: Current Assets - 146,000 Fixed Assets - Net - 360,000 Goodwill - 18,100 Liabilities - 28,000 Capital Stock- 350,000 Retained Earnings - 111,000 NCI - 35,100 On acquisition date, Hyundai's Fixed assets were under depreciated by 10,000. The balance of the excess payment was ascribed to goodwill. 24. How much is the cost of investment paid by Honda in acquiring 70% interest in Hyundai?
Honda Company acquired 70% of the outstanding stock of Hyundai Co. on January 1, 2022. The consolidated balance sheet prepared immediately after the business combination contained the following: Current Assets - 146,000 Fixed Assets - Net - 360,000 Goodwill - 18,100 Liabilities - 28,000 Capital Stock- 350,000 Retained Earnings - 111,000 NCI - 35,100 On acquisition date, Hyundai's Fixed assets were under depreciated by 10,000. The balance of the excess payment was ascribed to goodwill. 24. How much is the cost of investment paid by Honda in acquiring 70% interest in Hyundai?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 30E
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Transcribed Image Text:Honda Company acquired 70% of the outstanding stock of Hyundai Co. on January 1, 2022. The consolidated balance sheet prepared immediately after the
business combination contained the following:
Current Assets - 146,000
Fixed Assets - Net - 360,000
Goodwill - 18,100
Liabilities - 28,000
Capital Stock - 350,000
Retained Earnings - 111,000
NCI - 35,100
On acquisition date, Hyundai's Fixed assets were under depreciated by 10,000. The balance of the excess payment was ascribed to goodwill.
24. How much is the cost of investment paid by Honda in acquiring 70% interest in Hyundai?
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