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I need help with my incorrect answers Consolidation subsequent to date of acquisition - Equity method with noncontrolling interest and AAP Assume that, on January
I need help with my incorrect answers
Consolidation subsequent to date of acquisition - Equity method with noncontrolling interest and AAP Assume that, on January 1, 2013, a parent company acquired a 90% interest in its subsidiary. The total fair value of the controlling and noncontrolling interests was $480,000 over the book value of the subsidiary's Stockholders' Equity on the acquisition date. The parent assigned the excess fair value to the following [A] assets: [A] Asset Initial Fair Value Useful Life (years) nitial Useful Fair Value Life (years) 20 10 10 200,000 Indefinite [A] Asset Property, plant and equipment (PPE), net Patent Customer list $160,000 80,000 40,000 Goodwill $480,000Step by Step Solution
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