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The fair value of Spring's recorded assets and liabilities equaled their carrying amounts. However, Spring had two unrecorded assetsa trademark with an indefinite life and
The fair value of Spring's recorded assets and liabilities equaled their carrying amounts. However, Spring had two unrecorded assetsa trademark with an indefinite life and estimated fair value of $ and licensing agreements estimated to be worth $ with fouryear remaining lives. Any remaining acquisitiondate fair value in the Spring acquisition ws considered goodwill.
During Spring reported $ net income and declared and paid dividends totaling $ Also in Pasture reported $ net income, but neither declared nor paid dividends.
Required:
a What amount should Pasture assign to the percent noncontrolling interest of Spring at the acquisition date?
b How much of consolidated net income should be allocated to the noncontrolling interest?
c What amount of dividends should be allocated to the noncontrolling interest?
d What amount of noncontrolling interest should appear in the owners' equity section of Pasture's consolidated balance sheet at December
Answer is complete but not entirely correct.
tablea Value to be assigned to noncontrolling interest NCI at acquisition date,$
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