Park Company acquired an 80% interest in the common stock
Question # 00150371
Posted By:
Updated on: 12/12/2015 12:34 PM Due on: 01/11/2016
Park Company acquired an 80% interest in the common stock of Southdale Company for $1,540,000 on July 1, 2016. Southdale Company's stockholders' equity on that date consisted of:
Common stock $800,000
Other contributed capital 400,000
Retained earnings 330,000
Required:
Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:
- Parent company concept.
- Economic unit concept.
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Rating:
/5
Solution: Park Company acquired an 80% interest in the common stock