On July 1, 2018, Manama Co. acquired 99% of the outstanding ordinary share capital of Amwaj Co. for $990,000. The remaining 1% was held by a shareholder who was unwilling to sell the share. Amwaj Co.'s net assets had a book value of $950,000 and a fair market value of $50,000 more than the carrying value when it was acquired by Manama Co. Determine the Non-Controlling Interest using the full goodwill method.

On July 1, 2018, Manama Co. acquired 99% of the outstanding ordinary share capital of Amwaj Co. for $990,000. The remaining 1% was held by a shareholder who was unwilling to sell the share. Amwaj Co.'s net assets had a book value of $950,000 and a fair market value of $50,000 more than the carrying value when it was acquired by Manama Co. Determine the Non-Controlling Interest using the full goodwill method.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 18E

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