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q11- X Co acquired 80% of Y Co outstanding capital stock for $430,000 cash. Immediately...

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Accounting

q11-

X Co acquired 80% of Y Co outstanding capital stock for $430,000 cash. Immediately before the purchase, the balance sheets of both corporations reported the following: X CO Y CO Assets 2,000,000 750,000 Liabilities 750,000 400,000 Common Stock 1,000,000 310,000 Retained Earnings 250,000 40,000 Liabilities & Stockholders Equity 2,000,000 750,000 At the date of purchase, the fair value of Y assets was $50,000 more than the Book value amounts. In the consolidated balance sheet prepared immediately after the purchase,the non controlling interest should amount to Select one: a. 215,000 b. 107,500 c. 137,500 d. 86,000

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