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P purchased a 60% interest in S on 12/31/2010 for $90,000. On that date S had Equipment with a FV of $35,000 and a BV

P purchased a 60% interest in S on 12/31/2010 for $90,000. On that date S had Equipment with a FV of $35,000 and a BV of 20,000. The FV of all Ss identifiable assets-liabilities (FV) at acquisition was $100,000. Compute the amounts as they would appear in the consolidated balance sheet. Goodwill S Equipment NCI Synergy 35000 35000 60,000 Acquisition Premium 21000 35000 46000 FV of NCI independently determined $52,000

Goodwill

S Equipment

NCI

Synergy

Acquisition Premium

FV of NCI independently determined

$52,000

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