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Winnie Corporation acquired 75% of the outstanding stock of Joshua, Inc. on January 1, 2019 for $1,450,000 in cash. The fair value of the remaining
Winnie Corporation acquired 75% of the outstanding stock of Joshua, Inc. on January 1, 2019 for $1,450,000 in cash. The fair value of the remaining 25% ownership was $450,000. The book value of Joshua, Inc. at acquisition date was $1,340,000. One of Dulcinea's buildings, with a 10-year remaining life, was undervalued in the company's accounting records by $120,000. Also, Joshua had unrecorded technology with an estimated 13-year life and a fair value of $325,000. Required: Prepare the allocation of consideration, including an allocation of goodwill between the controlling interest and the noncontrolling interest
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