Question 15 Not yet answered Marked out of 1.00 P Flag question X Co acquired...
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Question 15 Not yet answered Marked out of 1.00 P Flag question 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 2,000,000 Assets 750,000 750,000 Liabilities 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 corporations reported the following: X CO Y 2,000,000 Assets 750,000 750,000 Liabilities 400,000 1,000,000 Common Stock 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. 107,500 b. 215,000 c. 137,500 d. 86,000
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