Assume Parker Corporation wants to acquire 90% (9,000 shares) of Strong Company. The FV of Strong Companys Net Assets is $600,000. Parker paid $70 per share to induce enough stockholders to sell 9,000 shares. Using the acquisition method: (1) determine the total amount of goodwill to be recognized in the consolidation; (2) Determine the amount of non-controlling interest as of the date of the acquisition. 3) Entries A-E please

When Company BIG acquired Company SMALL's 80% ownership, (1) BIG needs to include 100% or 80% of SMALL's asset/liability items in the consolidation? (2) The consolidation is based on SMALL's book value or fair value of those asset items? (CH 4)