On January 1, 2020, Pail Corporation acquired 80 percent of Sand Company's common stock for...
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Accounting
On January 1, 2020, Pail Corporation acquired 80 percent of Sand Company's common stock for $720,000 cash. The fair value of the noncontrolling interest at that date was determined to be $180,000. At December 31, 2020, Pail reported on its general ledger Investment in Sand at $794000. What amount of Investment in Sand would be reported on the 12/31/20 consolidated Balance Sheet
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