orking 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 SAPE

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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

?

What is the percentage of the Controlling Interest?

50%
None of the choices
100%
75%
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