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URGENT HELP Parent Company purchased 80% of shares of Sub Corporation for 558000 . On January 15,2021 , the acquisition date, Sub Corporation's capital stock
URGENT HELP
Parent Company purchased 80% of shares of Sub Corporation for 558000 . On January 15,2021 , the acquisition date, Sub Corporation's capital stock and retained earnings account balances were 503000 and 143000 , respectively. The following differences exist between book value and fair value for Sub Corporation on the date of purchase: Inventory -21000 Marketable securities -26000 Plant and equipment -36000 1.In preparing a Computation and Allocation Schedule for the difference between book value and the value implied by the purchase price in the consolidated statements workpaper, the Gain on the parent share is . The Increase Noncontrolling interest to fair value of assets is Parent Company purchased 80% of shares of Sub Corporation for 558000 . On January 15,2021 , the acquisition date, Sub Corporation's capital stock and retained earnings account balances were 503000 and 143000 , respectively. The following differences exist between book value and fair value for Sub Corporation on the date of purchase: Inventory -21000 Marketable securities -26000 Plant and equipment -36000 1.In preparing a Computation and Allocation Schedule for the difference between book value and the value implied by the purchase price in the consolidated statements workpaper, the Gain on the parent share is . The Increase Noncontrolling interest to fair value of assets isStep by Step Solution
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