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I need the answer as soon as possible X Co acquired 80% of Y Co outstanding capital stock for $430,000 cash. Immediately before the purchase,
I need the answer as soon as possible
X Co acquired 80% of Y Co outstanding capital stock for $430,000 cash. Immediately before the purchase, the balance sheets of both corporations reported the following: Assets 2,000,000 750,000 Liabilities 750,000 400,000 Common Stock 1,000,000 310,000 Retained Earnings 250,000 40,000 Liabilities & Stockholders' Equity 2,000,000 750,000 At the date of purchase, the fair value of Y assets was $50,000 more than the Book value amounts. In the consolidated balance sheet prepared Immediately after the purchase the non controlling interest should amount to Select one: a. 107,500 b 215,000 C. 137,500 d. 86,000Step by Step Solution
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