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How to calculate the NCI in NI and NCI in NA for below, thanks . Prince Corporation holds 75 percent of the common stock of

How to calculate the NCI in NI and NCI in NA for below, thanks .

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Prince Corporation holds 75 percent of the common stock of Sword Distributors Inc., purchased on December 31, 20X1, for $2,100,000. At the date of acquisition, Sword reported common stock with a par value of $920,000, additional paid-in capital of $1,270,000, and retained earnings of $540,000. The fair value of the noncontrolling interest at acquisition was $700,000. The differential at acquisition was attributable to the following items: Inventory (sold in 20X2) Land Goodwill Total Differential $17,500 24,500 28,000 $70,000 During 20X2, Prince sold a plot of land that it had purchased several years before to Sword at a gain of $9,800; Sword continues to hold the land. In 20X6, Prince and Sword entered into a five-year contract under which Prince provides management consulting services to Sword on a continuing basis, Sword pays Prince a fixed fee of $83.000 per year for these services. At December 31, 20X8, Sword owed Prince $20,750 as the final 20X8 quarterly payment under the contract. On January 2, 20X8, Prince paid $260,000 to Sword to purchase equipment that Sword was then carrying at $300,000. Sword had purchased that equipment on December 27, 20X2, for $450,000. The equipment is expected to have a total 15-year life and no salvage value. The amount of the differential assigned to goodwill has not been impaired. At December 31, 20X8. trial balances for Prince and Sword appeared as follows: $ Sword Distributors Inc. Debit Credit 5 43,000 93,400 219,999 Current Receivables Inventory Investeent in Sword Distributors Land Buildings & Equipment Cost of Goods Solo Depreciation & Amortization Other Expenses Dividends Declared Accumulated Depreciation Current Payables Bonds Payable Common Stock Additional Paid-in Capital Retained Earnings, January 1 Sales Other Income or Loss Income from Sword Distributors Total Prince Corporation Debit Credit 55,700 105,800 290,000 2,785,825 408,006 2,570,000 2,192.000 185,000 1,366,000 42,000 $ 1,989.000 1,204.000 3.136, 090 516,999 86,000 226,099 12,099 90.000 411,000 460,300 189, 900 920,900 1,270,000 1.320.900 1.276.600 1, 456,800 4.870,575 94.000 132,750 $10,000,325 33,090 $10,000,325 55,557,399 55.557.300 As of December 31, 20X8. Sword had declared but not yet paid its fourth-quarter dividend of $5,000. Both companies use straight-line depreciation and amortization. Prince uses the fully adjusted equity method to account for its investment in Sword. Required: a. Compute the amount of the differential as of January 1, 20X8. Remaining differential 52 500 b. Verify the balance in Prince's Investment in Sword Distributors account as of December 31, 20X8. Balance in Investment in Sivard Account 2.756.250 Accounts Debit Credit Coming so 920.000 Retsindsamnings 1.320.000 me Sud Dist. od Dist. Store pson capital 270.000 vestment in Sud Dist. 7:56.250 Soigne 0 12.00

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