Park Company acquired an 80% interest in the common stock of Southdale Company for $1,540,000 on July 1,2016.Southdale Company's stockholders' equity on that date consisted of:
Required:
Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:
(1)parent company concept.
(2)economic unit concept.

Question

Park Company acquired an 80% interest in the common stock of Southdale Company for $1,540,000 on July 1,2016.Southdale Company's stockholders' equity on that date consisted of:
  Required:
Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:
(1)parent company concept.
(2)economic unit concept.

Quizplus · Accepted Answer

The Answer of Park Company acquired an 80% interest in the common stock of Southdale Company for $1,540,000 on July 1,2016.Southdale Company's stockholders' equity on that date consisted of:
  Required:
Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:
(1)parent company concept.
(2)economic unit concept.

Park Company Acquired an 80% Interest in the Common Stock