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AAA Ltd. acquired 70% of the outstanding common shares of BBB Ltd. At the acquisition date, BBB's net identifiable assets had a carrying value of
AAA Ltd. acquired 70% of the outstanding common shares of BBB Ltd. At the acquisition date, BBB's net identifiable assets had a carrying value of $825,000 and a fair market value of $1,000,000. AAA paid $910,000 for the acquisition. Under the entity method, what amount should be reported for the non-controlling interest on the consolidated statement of financial position?
AAA Ltd. acquired 70% of the outstanding common shares of BBB Ltd. At the acquisition date, BBB's net identifiable assets had a carrying value of $825,000 and a fair market value of $1,000,000. AAA paid $910,000 for the acquisition. Under the entity method, what amount should be reported for the non-controlling interest on the consolidated statement of financial position?
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