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will rate after checking work thanks Summer Company holds assets with a fair value of $115,000 and a book value of $97,000 and liabilities with
will rate after checking work thanks
Summer Company holds assets with a fair value of $115,000 and a book value of $97,000 and liabilities with a book value and fair value of $27.000 Required: Compute the following amounts of Parade Corporation acquires 70 percent ownership of Summer: a. What amount did Parade pay for the shares if no goodwill and no gain on a bargain purchase are reported? Acquisition price b. What amount did Parade pay for the shares of the fair value of the noncontrolling interest at acquisition is $36,900 and goodwill of $35,000 is reported? Acquisition price c. What balance will be assigned to the noncontrolling Interest in the consolidated balance sheet if Parade pays $77700 to acquire its ownership and goodwill of $23,000 is reported? Balance assigned to noncontrolling interestStep by Step Solution
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