A parent acquired 90 of the voting stock of a subsidiary for $20,000 The fair value of the noncontrolling interest was $2,000 The subsidiary's book value at the date of acquisition was $1,000 Following is revaluation information for the subsidiary's identifiable net assets at the date of acquisition Fair Value Book Value Inventories $ (400) Equipment (10,000) Identifiable intangibles 16,000 What is the amount of consolidated goodwill attributed to the noncontrolling interest at the date of acquisition, following U S GAAP A $1,340 B $1,440 C $1,540 D $0

Question

A parent acquired 90  of the voting stock of a subsidiary for $20,000  The fair value of the noncontrolling interest was $2,000  The subsidiary's book value at the date of acquisition was $1,000  Following is revaluation information for the subsidiary's identifiable net assets at the date of acquisition  Fair Value Book Value Inventories $ (400) Equipment (10,000) Identifiable intangibles 16,000 What is the amount of consolidated goodwill attributed to the noncontrolling interest at the date of acquisition, following U S  GAAP  A  $1,340 B  $1,440 C  $1,540 D  $0

Accepted Answer

The Answer is in the image, click to view ...

Question

A parent acquired 90% of the voting stock of a subsidiary for $20,000. The fair value of the noncontrolling interest was $2,000. The subsidiary's book

Step by Step Solution

Step: 1

Get Instant Access with AI-Powered Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

	Fair Value Book Value
Inventories	$ (400)
Equipment	(10,000)
Identifiable intangibles	16,000