e working paper eliminating entry recorded by VEE Co. on January 1, 2030, the date of acquisition of its subsidiary follows(amounts in dollars): Common stock-Acquiring Company 200,000 APIC-Acquiring Company 300,000 Retained Earn
The working paper eliminating entry recorded by VEE Co. on January 1, 2030, the date of acquisition of its subsidiary follows(amounts in dollars):
Common stock-Acquiring Company 200,000
APIC-Acquiring Company 300,000
Inventory 75,000
Plant Assets (net) 105,000
Patent 70,000
Investment in Acquiring Company 920,000
Non-controlling interest in Acquired Company 280,000
$30,000 of the recorded goodwill belongs to the non-controlling interest.
What is the percentage of outstanding voting shares of the subsidiary acquired by the parent?
Step by step
Solved in 2 steps with 2 images
