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How much the parent recognize the goodwill interest

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The Parent Company pays $108,000 for a 90% interest of Sub Corp, and the fair value of the Sub's net assets is $100,000.

Question A. Under entity theory, how much the Parent recognize the goodwill and non-controlling interest in the balance sheet at the time of acquisition? Explain why.

Question B. Under parent company theory, how much the Parent recognize the goodwill and non-controlling interest in the balance sheet at the time of acquisition? Explain why.

Reference no: EM132869378

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