In Paints December 31, 20X8, consolidated balance sheet, what amount should be reported as noncontrolling interest in

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In Paint’s December 31, 20X8, consolidated balance sheet, what amount should be reported as noncontrolling interest in net assets?

a. $0

b. $30,000

c. $45,000

d. $105,000 Items 1 and 2 are based on the following:
On January 2, 20X8, Paint Company acquired 75 percent of Stain Company’s outstanding common stock at an amount equal to its underlying book value.
Selected balance sheet data at December 31, 20X8, follow:

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Advanced Financial Accounting

ISBN: 9781260165111

12th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

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