Determine how much goodwill that would be allocated

Reference no: EM133415810

Question: On January 1, 2019 Annick Co. acquired 60% of Noah Inc. by paying $650,000. The fair value of noncontrolling interest was $400,000. Noah reported common stock on that date of $420,000 with retained earnings of $250,000. A building was undervalued on Noah's financial records by $28,000. This building had a ten-year remaining life. Unrecorded copyrights with fair values of $72,000 were to be recognized and amortized over 20 years.

Noah earned income and paid cash dividends as follows:

	Net income	Dividends paid
2019	$105,000	$45,600
2020	134,400	61,600

A.) Determine how much goodwill that would be allocated between the controlling and non-controlling interest.

B.) What is the ending balance of the non-controlling interest in the subsidiary at December 31, 2019?

C.) What is the consolidated balance of the building's account at December 31, 2019

Reference no: EM133415810

Questions Cloud

Why would discovery play a role in causing a plaintiff : Why would "Discovery" play a role in causing a plaintiff or defendant to seek an alternative to going to court?

Why cultural competence alone cannot health disparities : What are the benefits of implementing programs (provide an example of a real program) to address cultural competence within the healthcare organization?

Accrual basis accounting and cash basis accounting : explain the difference between accrual basis accounting and cash basis accounting. How do adjusting entries contribute to accurate financial statements under

Discuss what is involved in personal development planning : Discuss what is involved in personal development planning and the methods that can be used to achieve this.

Determine how much goodwill that would be allocated : Determine how much goodwill that would be allocated between the controlling and non-controlling interest

How your team or project will achieve the stated project : how your team/project will achieve the stated project objectives better than any other option. The Business Case is your chance to fight for funding for your

Explain espective percentages that make up a credit score : List and explain the five categories and the respective percentages that make up a credit score?

Select the human resource management standardization : You are Lynne Harris, and you are leading one of the three projects identified in the Case Study referred to above. Select the Human Resource Management (HRM)

What is sofias self-employment tax liability : Sofia has $35,000 in itemized deductions. What is Sofias self-employment tax liability

User Account

All Pages