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Case 16-9 Consolidation, Entity Theory Entity theory is one of the two prominent theories of consolidation. Required: Under entity theory: a. How would the value

Case 16-9 Consolidation, Entity Theory

Entity theory is one of the two prominent theories of consolidation.

Required:

Under entity theory: a. How would the value of goodwill be determined? Explain why. b. How would the initial value of noncontrolling interest be determined? Explain why. c. How would a company report noncontrolling interest income in the consolidated income statement? Explain why. d. Where would a company report noncontrolling interest in the consolidated balance sheet? Explain why.

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