Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 26, 2024

On January 1, 2020, Pail Corporation acquired 80 percent of Sand Company's common stock for $720,000 cash. The fair value of the noncontrolling interest at

On January 1, 2020, Pail Corporation acquired 80 percent of Sand Company's common stock for $720,000 cash. The fair value of the noncontrolling interest at that date was determined to be $180,000. At December 31, 2020, Pail reported on its general ledger Investment in Sand at $794000. What amount of Investment in Sand would be reported on the 12/31/20 consolidated Balance Sheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions

Question

Choose two unsupervised methods. Explain in general how they work. Create a detailed example of how you might use each in an applied setting.

Answered: 1 week ago

Question

★★★★★

Zak Corp. purchased depreciable assets costing $600,000 on January 2, 2010. For tax purposes, the company uses CCA in a class that has a 40% rate. For financial reporting purposes, the company uses...

Answered: 1 week ago

Question

★★★★★

I NEED HELP WITH QUESTION ASAP!! PLEASE GIVE ME THE CORRECT ANSWER!! THANKS!! 1. The CONCATENATE function Is used when Items on a worksheet need to be A. spell checked B. None of the answers are...

Answered: 1 week ago

Question

★★★★★

Many companies are now in a quandary about how to handle workplace computer use. Please t horoughly discuss with concepts from the chapter and personal experiences. Avoid brief and general responses....

Answered: 1 week ago

Question

★★★★★

Question #8 of 50 Question ID: 1158320 Registered principal Jane has just received a recommendation from Charlotte for the purchase of a deferred variable annuity for Charlotte's client, William....

Answered: 1 week ago

Question

★★★★★

A bike assembly line in a manufacturing system uses 400 pedals per day. Pedals can be produced at a rate of 800 units per day. The shop operates 20 days a month. Assume that demand is uniform...

Answered: 1 week ago

Question

★★★★★

The year is 2030, and the rate of change has continued to exponentially increase over the last few years. Select a current organization that you believe will still be successful in the year 2030. I...

Answered: 1 week ago

Question

★★★★★

a company that operates for 50 weeks in a year is concerned about its stocks of copper cable. This costs rs. 240 a meter and there is a demand for 8000 meters a week . Each replenishment costs rs....

Answered: 1 week ago

Question

★★★★★

25) A coffee shop operates 7 days per week and needs to determine how many workers (full-time equivalent, FTE) employees to staff. Employees work 12 hour shifts. A FTE is defined as an employee that...

Answered: 1 week ago

Previous Question Next Question