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Wilco acquires a 90% interest in Seminole C book value of Seminole's identifiable net ass

Wilco acquires a 90% interest in Seminole C book value of Seminole's identifiable net ass

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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T7.

 

Wilco acquires a 90% interest in Seminole Corporation on January 1, 2022, for $900,000. The book value of Seminole's identifiable net assets at that date was $800,000. Seminole reports $100,000 of net income in 2022 and paid $30,000 in dividends. What is the noncontrolling interest in net assets for 2022? $107,000 Some Other Answer $800,000 $863,000 $100,000
Transcribed Image Text:Wilco acquires a 90% interest in Seminole Corporation on January 1, 2022, for $900,000. The book value of Seminole's identifiable net assets at that date was $800,000. Seminole reports $100,000 of net income in 2022 and paid $30,000 in dividends. What is the noncontrolling interest in net assets for 2022? $107,000 Some Other Answer $800,000 $863,000 $100,000
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