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    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.