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Practicum Co. pad $1.2 million for an 80% interest in the common stock of Sarong Co. Practicum had no previous equity interest in Sarong. On
Practicum Co. pad $1.2 million for an 80% interest in the common stock of Sarong Co. Practicum had no previous equity interest in Sarong. On the acquisition date, Sarong's identifiable net assets had a $1.3 million carrying amount, and their fair value equaled $1.4 million. The fair value of the noncontrolling interest (NCI) on the date of acquisition was $360,00. Practicum should record goodwill of? (please show work)
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