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Palson Company acquired 75 percent of Booth Corporation's common stock for $450,000 in cash. At the acquisition date, the book values and fair values of

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Palson Company acquired 75 percent of Booth Corporation's common stock for $450,000 in cash. At the acquisition date, the book values and fair values of Booth's assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 25 percent of the total book value of Booth. The stockholders' equity accounts of the two companies at the acquisition date are: PALSON Booth Common Stock ($5 par value) $1,000,000 $300,000 Additional Paid-in Capital 640,000 100,000 Retained Earnings 800.000 200,000 Total Stockholders' Equity S2,440,000 $600.000 NCI in Income of Booth of $25,000 was on Palson's consolidated income statement for 2020. Booth declared $30,000 in cash dividends Palson reported Income (excluding income from the Booth investment) equal to $1,900,000, and declared $190,000 in dividends. Input Requirement: 1. No $'s in the general journals. Otherwise, include a Son all monetary amounts. 2. Be sure to include the 1,000 separator (4,500 NOT 4500) 3. Where needed, round answers to the nearest $1 REQUIRED: 1. What amount will be assigned to the Noncontrolling interest (NC IN NA of Booth) on the January 3, 2020 consolidated balance sheet. $117.500 2. What is the total stockholders' equity reported on the January 3, 2020 individual balance sheet of Booth? $600,000 3. What is the total stockholders' equity reported on the January 3, 2020 consolidated balance sheet? Palson Company acquired 75 percent of Booth Corporation's common stock for $450,000 in cash. At the acquisition date, the book values and fair values of Booth's assets and liabilities were equal and the fair value of the noncontrolling interest was equal to 25 percent of the total book value of Booth. The stockholders' equity accounts of the two companies at the acquisition date are: PALSON Booth Common Stock ($5 par value) $1,000,000 $300,000 Additional Paid-in Capital 640,000 100,000 Retained Earnings 800,000 200,000 Total Stockholders' Equity $2.440,000 $600,000 NC in Income of Booth of $25,000 was on palson's consolidated income statement for 2020. Booth declared $30,000 in cash dividends Palson reported Income (excluding income from the Booth investment) equal to $1,900,000, and declared $190,000 in dividends. Input Requirement: 1. No $'s in the general journals. Otherwise, include a $ on all monetary amounts. 2. Be sure to include the 1,000 separator (4,500 NOT 4500) 3. Where needed, round answers to the nearest $1 REQUIRED: 1. What amount will be assigned to the Noncontrolling interest (NCI IN NA of Booth) on the January 3, 2020 consolidated balance $117.500 2. What is the total stockholders' equity reported on the January 3, 2020 individual balance sheet of Booth? $600,000 3. What is the total stockholders' equity reported on the January 3, 2020 consolidated balance sheet? Click Save and Submit to save and submit. Click Save All Answers to save all answers

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