Question
Wheddon Co purchased 60,000 ordinary shares in Raleigh Co for $85,000 five years ago, when Raleigh Cos retained earnings were $20,000. Raligh Cos equity and
Wheddon Co purchased 60,000 ordinary shares in Raleigh Co for $85,000 five years ago, when Raleigh Cos
retained earnings were $20,000.
Raligh Cos equity and reserves at 31 July 20X9 were as follows:
Ordinary shares $1 80,000
Retained earnings 70,000
The fair value of the non-controlling interest at acquisition was $22,000.
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
