On January 1, 2021, PORKING acquired majority of SAPER’s outstanding voting stocks. On that day, the (incomplete) working paper entries on that day were as follow WPE#1 Dr: Ordinary shares of SAPER 300,000 Dr: APIC of SAPER 300,000 Dr: RE of SAPER 375,000 Cr: Investment in SAPER ? Cr: Non-controlling interest ? WPE#2 Dr: Assets of SAPER 174,500 Cr: Investment in SAPER 113,425 Cr: Non-controlling interest ? WPE#3 Dr: Goodwill ? Cr: Investment in SAPER 74,075 Cr: Non-controlling interest ? Group of answer choices a.None of the choices b.50% c.100% d.75%
On January 1, 2021, PORKING acquired majority of SAPER’s outstanding voting stocks. On that day, the (incomplete) working paper entries on that day were as follow WPE#1 Dr: Ordinary shares of SAPER 300,000 Dr: APIC of SAPER 300,000 Dr: RE of SAPER 375,000 Cr: Investment in SAPER ? Cr: Non-controlling interest ? WPE#2 Dr: Assets of SAPER 174,500 Cr: Investment in SAPER 113,425 Cr: Non-controlling interest ? WPE#3 Dr: Goodwill ? Cr: Investment in SAPER 74,075 Cr: Non-controlling interest ? Group of answer choices a.None of the choices b.50% c.100% d.75%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
On January 1, 2021, PORKING acquired majority of SAPER’s outstanding voting stocks. On that day, the (incomplete) working paper entries on that day were as follow
WPE#1 |
Dr: Ordinary shares of SAPER |
300,000 |
|
Dr: APIC of SAPER |
300,000 |
|
Dr: RE of SAPER |
375,000 |
|
Cr: Investment in SAPER |
? |
|
Cr: Non-controlling interest |
? |
|
|
|
WPE#2 |
Dr: Assets of SAPER |
174,500 |
|
Cr: Investment in SAPER |
113,425 |
|
Cr: Non-controlling interest |
? |
|
|
|
WPE#3 |
Dr: |
? |
|
Cr: Investment in SAPER |
74,075 |
|
Cr: Non-controlling interest |
? |
Group of answer choices
a.None of the choices
b.50%
c.100%
d.75%
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