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Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: (1) (2) (1) (2) parent company concept. economic unit concept. Parent company concept Economic unit concept Total Noncontrolling Interest

Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: (1) (2) (1) (2) parent company concept. economic unit concept. Parent company concept Economic unit concept Total Noncontrolling Interest

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: (1) (2) (1) (2) parent company concept. economic unit concept. Parent company concept Economic unit concept Total Noncontrolling Interest
Transcribed Image Text:Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: (1) (2) (1) (2) parent company concept. economic unit concept. Parent company concept Economic unit concept Total Noncontrolling Interest
Sheridan Company acquired an 80% interest in the common stock of Pharoah Company for $1,541,700 on July 1, 2022. Pharoah Company's stockholders' equity on that date consisted of: Common stock Other contributed capital Retained earnings $804,100 404,900 334,600 Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:
Transcribed Image Text:Sheridan Company acquired an 80% interest in the common stock of Pharoah Company for $1,541,700 on July 1, 2022. Pharoah Company's stockholders' equity on that date consisted of: Common stock Other contributed capital Retained earnings $804,100 404,900 334,600 Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:
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