Inventory Plant and equipment (net) Goodwill Trademark Cash Accounts receivable Retained earnings Total liabilities and equity O O Total assets Current liabilities Bonds payable Common shares Multiple Choice C $36,000 $27,400 Nil PayNet Inc (carrying value) $280,000 100,000 60,000 200,000 $39,000 $640,000 $120,000 330,000 90,000 100,000 $640,000 ssuming that PayNet acquires 70% of Shale on August 1, 2022, for cash of $196,000, what is the amount of the non-controlling interest (NCI) on PayNet's consolidated balance sheet at the date of acquisition if the entifiable net assets (INA) method was used? Shale Ltd. (carrying value) $36,000 40,000 24,000 80,000 8,000 12.000 $200,000 $50,000 20,000 80,000 50,000 $200,000 Shale Ltd. (fair value) $36.000 45,000 20.000 75.000 24,000 50,000 30,000
Inventory Plant and equipment (net) Goodwill Trademark Cash Accounts receivable Retained earnings Total liabilities and equity O O Total assets Current liabilities Bonds payable Common shares Multiple Choice C $36,000 $27,400 Nil PayNet Inc (carrying value) $280,000 100,000 60,000 200,000 $39,000 $640,000 $120,000 330,000 90,000 100,000 $640,000 ssuming that PayNet acquires 70% of Shale on August 1, 2022, for cash of $196,000, what is the amount of the non-controlling interest (NCI) on PayNet's consolidated balance sheet at the date of acquisition if the entifiable net assets (INA) method was used? Shale Ltd. (carrying value) $36,000 40,000 24,000 80,000 8,000 12.000 $200,000 $50,000 20,000 80,000 50,000 $200,000 Shale Ltd. (fair value) $36.000 45,000 20.000 75.000 24,000 50,000 30,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
PayNet Inc. (PayNet) and Shale Ltd. (Shale) had the following
Transcribed Image Text:Inventory
Plant and equipment (net)
Goodwill
Trademark
Cash
Accounts receivable
Retained earnings
Total liabilities and equity
O
O
Total assets
Current liabilities
Bonds payable
Common shares
Multiple Choice
C
$36,000
$27,400
Nil
PayNet Inc
(carrying value)
$280,000
100,000
60,000
200,000
$39,000
$640,000
$120,000
330,000
90,000
100,000
$640,000
ssuming that PayNet acquires 70% of Shale on August 1, 2022, for cash of $196,000, what is the amount of the non-controlling interest (NCI) on PayNet's consolidated balance sheet at the date of acquisition if the
entifiable net assets (INA) method was used?
Shale Ltd.
(carrying value)
$36,000
40,000
24,000
80,000
8,000
12.000
$200,000
$50,000
20,000
80,000
50,000
$200,000
Shale Ltd.
(fair value)
$36.000
45,000
20.000
75.000
24,000
50,000
30,000
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