on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the Y net assets was $ 140,000 ,in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000 , declared dividend $30,000 , X using equity methods what is non- controlling interest balance on 1/1/2019 Select one: a. 37,500 b. 10,000 c. 47,500 d. 50,000
on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the Y net assets was $ 140,000 ,in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000 , declared dividend $30,000 , X using equity methods what is non- controlling interest balance on 1/1/2019 Select one: a. 37,500 b. 10,000 c. 47,500 d. 50,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 25E
Related questions
Question
on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the Y net assets was $ 140,000 ,in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000 , declared dividend $30,000 , X using equity methods what is non- controlling interest balance on 1/1/2019
Select one:
a. 37,500
b. 10,000
c. 47,500
d. 50,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning