Business, 22.07.2019 17:10 Arealbot

On january 1, 2018, ritt corporation acquired 80 percent of shaw corporation’s $10 par common stock for $956,000. on this date, the fair value of the noncontrolling interest was $239,000, and the carrying amount of shaw’s net assets was $1,000,000. the fair values of shaw’s identifiable assets and liabilities were the same as their carrying amounts except for plant assets (net) with a remaining life of 20 years, which were $100,000 in excess of the carrying amount. for the year ended december 31, 2018, shaw had net income of $190,000 and paid cash dividends totaling $125,000. in the december 31, 2018, consolidated balance sheet, the amount of noncontrolling interest reported should be

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On january 1, 2018, ritt corporation acquired 80 percent of shaw corporation’s $10 par common stock...

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