Oriole Company acquired an 80% interest in the common stock of Sunland Company for $1,540,400 on July 1, 2022. Sunland Company's stockholders' equity on that date consisted of: Common stock Other contributed capital Retained earnings Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: (1) (2) (1) $802,900 404,900 332,700 (2) parent company concept. economic unit concept. Parent company concept Economic unit concept Total Noncontrolling Interest $ SA 308180 308100

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Oriole Company acquired an 80% interest in the common stock of Sunland Company for $1,540,400 on July 1, 2022. Sunland
Company's stockholders' equity on that date consisted of:
Common stock
Other contributed capital
Retained earnings
Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:
(1)
(2)
(1)
$802,900
404,900
332,700
(2)
parent company concept.
economic unit concept.
Parent company concept
Economic unit concept
Total Noncontrolling Interest
$
SA
308180
308100
Transcribed Image Text:Oriole Company acquired an 80% interest in the common stock of Sunland Company for $1,540,400 on July 1, 2022. Sunland Company's stockholders' equity on that date consisted of: Common stock Other contributed capital Retained earnings Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: (1) (2) (1) $802,900 404,900 332,700 (2) parent company concept. economic unit concept. Parent company concept Economic unit concept Total Noncontrolling Interest $ SA 308180 308100
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