Advanced Accounting - Perch Co. and Float Corp.
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Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair market value of Float's net assets was $1,850,000, and the book value was $1,500,000.
What is the dollar amount of Noncontrolling Interest which should appear on a balance sheet prepared immediately after consolidation according to the Economic Unit Concept?
A $350,000
B $300,000
C $400,000
D $250,000
E $0
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Solution Summary
The solution calculates the dollar amount of noncontrolling interest in a question concerning Perch Co. and Float Corp.
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