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On January 1, 2019, Aronsen Company acquired 90 percent of Siedel Companys outstanding shares. Siedel had a net book value on that date of $633,900:
On January 1, 2019, Aronsen Company acquired 90 percent of Siedel Companys outstanding shares. Siedel had a net book value on that date of $633,900: common stock ($10 par value) of $247,500 and retained earnings of $386,400. Aronsen paid $686,700 for this investment. The acquisition-date fair value of the 10 percent noncontrolling interest was $76,300. The excess fair value over book value associated with the acquisition was used to increase land by $46,060 and to recognize
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