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ets was $2,100,000, ontrolling interest shares of llar amount of noncontrollir

ets was $2,100,000, ontrolling interest shares of llar amount of noncontrollir

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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Dodd Co. acquired 75% of the common stock of Wallace Corp. for $1,920,000. The fair value of Wallace's net assets was $2,100,000, and the book value was $1,800,000. The noncontrolling interest shares of Wallace Corp. are not actively traded. What is the dollar amount of noncontrolling interest that should appear in a consolidated balance sheet prepared at the date of acquisition? $480,000 $640,000 $45,000 $525.000 $450,000
Transcribed Image Text:Dodd Co. acquired 75% of the common stock of Wallace Corp. for $1,920,000. The fair value of Wallace's net assets was $2,100,000, and the book value was $1,800,000. The noncontrolling interest shares of Wallace Corp. are not actively traded. What is the dollar amount of noncontrolling interest that should appear in a consolidated balance sheet prepared at the date of acquisition? $480,000 $640,000 $45,000 $525.000 $450,000
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