On January Gooch Company acquires of the outstanding common stock of House Inc., for a purchase price of $ It was determined that the fair value of the noncontrolling interest in the subsidiary is $ The book value of the Houses stockholders equity on the date of acquisition is $ and its fair value of identifiable net assets is $ The acquisitiondate acquisition accounting premium AAP is allocated $ to equipment with a remaining useful life of years, and $ to a patent with a remaining useful life of years.
Assume that during the year ended December House reports net income of $ and pays dividends of $ Gooch uses the cost method to account for its investment in House.
Determine the December amount of noncontrolling interest reported in the consolidated financial statements.
Select one:
A $
B $
C $
D $ I have selected answer D and C and they have been marked wrong. I can't figure this one out.
