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P acquired 75% shares of S on Jan 1, 2018 for $150,000. On that date S reported common stock of $100,000 and retained earnings of $100,000. All assets have of S have a fair value equal to the book value. On the date of acquisition, what amount of non-controlling interest will be reported in the consolidated balance sheet? $50,000 $0

P acquired 75% shares of S on Jan 1, 2018 for $150,000. On that date S reported common stock of $100,000 and retained earnings of $100,000. All assets have of S have a fair value equal to the book value. On the date of acquisition, what amount of non-controlling interest will be reported in the consolidated balance sheet? $50,000 $0

SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter8: Consolidated Tax Returns
Section: Chapter Questions
Problem 36P
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P acquired 75% shares of S on Jan 1, 2018 for $150,000. On that date S reported common stock of $100,000 and retained earnings of $100,000. All assets have of S have a fair value equal to the book value. On the date of acquisition, what amount of non-controlling interest will be reported in the consolidated balance sheet? $50,000 $0 $60,000 $200,000
Transcribed Image Text:P acquired 75% shares of S on Jan 1, 2018 for $150,000. On that date S reported common stock of $100,000 and retained earnings of $100,000. All assets have of S have a fair value equal to the book value. On the date of acquisition, what amount of non-controlling interest will be reported in the consolidated balance sheet? $50,000 $0 $60,000 $200,000
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