1. Python acquires 80% of the voting stock of Slither on January 1, 2020 for $4,000. The fair value of the noncontrolling interest is $950. Slither's balance sheet at the date of acquisition is as follows: Book Value Dr (Cr) Fair Value Dr (Cr) Tangible assets $5,000 $6,500 Identifiable intangibles - 2,000 Liabilities (3,000) (3,000) Capital stock (600) - Retained earnings (1,400) - 2. On the consolidation working paper at January 1, 2020, what is the credit to noncontrolling interest in Slither for eliminating entry (E) ? A. $-0 - B. $300 C. $400 D. $100
+1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “1. Python acquires 80% of the voting stock of Slither on January 1, 2020 for $4,000. The fair value of the noncontrolling interest is $950. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Home » Business » 1. Python acquires 80% of the voting stock of Slither on January 1, 2020 for $4,000. The fair value of the noncontrolling interest is $950.