Answered step by step
Verified Expert Solution
Question
1 Approved Answer
on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $140,000 ,in the same
on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $140,000 ,in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000,declared dividend $30,000,X using equity methods what is non controlling interest in net income balance on 31/12/2019
Select one: a. 10,000 b. 4,000 c. 41,500 d. 37,500
q2. The acquisitions method for consolidation requires that all assets and liabilities of the subsidiary are reported using 100% of fair values at the combination date. Select one: True False
on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $140,000 ,in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000,declared dividend $30,000,X using equity methods what is non controlling interest in net income balance on 31/12/2019
Select one:
a. 10,000
b. 4,000
c. 41,500
d. 37,500
q2. The acquisitions method for consolidation requires that all assets and liabilities of the subsidiary are reported using 100% of fair values at the combination date.
Select one:
True
False
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started