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3. Use the following information Python acquires 80% of the voting fair value of the noncontrolling interes acquisition is as follows: oling stock of Slither

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3. Use the following information Python acquires 80% of the voting fair value of the noncontrolling interes acquisition is as follows: oling stock of Slither on January 1, estions 3-6. 32 lary 1, 2020 for $4,000. The interest is $950. Slither's balance sheet at the date of Book Value Dr (Cr) $5,000 Fair Value Dr (Cr) $6,500 2,000 (3,000) Tangible assets Identifiable intangibles Liabilities Capital stock Retained earnings (3,000 (600) (1,400) 5500 * 801 - 4400 a boristeria isto The gain on acquisition is: A) $1,500 B) $ 550 C) $ 600 D) $ 750 Det l lodoro $ 400 4. On the consolidation working paper at January 1, 2020, what is the credit to noncontrolling interest in Slither for eliminating entry (E)? A) S-0- B) $100 C) $300 D) $400 5. On the consolidation working paper at January 1, 2020, what is the credit to Investment in Slither for eliminating entry (R)? A) $2,340 B) $2,550 C) $2,950 D) $2,400 6 On the consolidation working paper at January 1, 2020, what is the credit to Noncontrolling Interest in Slither for eliminating entry (R)? A) $550 B) $950 C) $700 D) $850 3. Use the following information Python acquires 80% of the voting fair value of the noncontrolling interes acquisition is as follows: oling stock of Slither on January 1, estions 3-6. 32 lary 1, 2020 for $4,000. The interest is $950. Slither's balance sheet at the date of Book Value Dr (Cr) $5,000 Fair Value Dr (Cr) $6,500 2,000 (3,000) Tangible assets Identifiable intangibles Liabilities Capital stock Retained earnings (3,000 (600) (1,400) 5500 * 801 - 4400 a boristeria isto The gain on acquisition is: A) $1,500 B) $ 550 C) $ 600 D) $ 750 Det l lodoro $ 400 4. On the consolidation working paper at January 1, 2020, what is the credit to noncontrolling interest in Slither for eliminating entry (E)? A) S-0- B) $100 C) $300 D) $400 5. On the consolidation working paper at January 1, 2020, what is the credit to Investment in Slither for eliminating entry (R)? A) $2,340 B) $2,550 C) $2,950 D) $2,400 6 On the consolidation working paper at January 1, 2020, what is the credit to Noncontrolling Interest in Slither for eliminating entry (R)? A) $550 B) $950 C) $700 D) $850

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