Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On lanuary 1, 2021. Wal-Man company purchased 90% of Bingo company outstanding shares for $1,400,000 when the fair value of Bingo assets were equal to
On lanuary 1, 2021. Wal-Man company purchased 90% of Bingo company outstanding shares for $1,400,000 when the fair value of Bingo assets were equal to the book values. If a consolidated balance sheet was prepared immediately after the business combination, compute the unsount of non-controling interest (NC): a. 5100,000 b. 5155,556 c. 5140,000. d. 5520,900 . 4. On Jasaary 1, 2020, Stan company Purchased 708 of Eagle company for $210,000 when the Pook value net assets of Eagle conpany is $180,000 the fair values of Eagle assets and liabilities were eqaal wo the book values. On a consolidated balance sheet prepured at January 1,2020 , the anount of goodwill would be: a. 530,000 . b. 540,000 \&. 530,000. d. 5120,000 . 8. Apple company bought 8006 of Sea Company's comman stock at is book value of 5500,000 on larruary 1, 2020. Doring 2020, Sea company reported net income of 5150,000 and pald dividends of 554,000 . The Invetment balance on Decenber 31,2020 is: a. 5500,000 b. 5548,000 c. 5584,000 d. 5576,800
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