(Answered) Pillow company is purchasing an 80 interest in the common

Accounting

Pillow Company is purchasing an 80% interest in the common stock of Sleep Company.

Sleep's balance sheet amounts at book and fair value are as follows:

	Book	Fair
Account	Value	Value
Current assets	$ 200,000	$ 250,000
Fixed assets	350,000	800,000
Liabilities	(200,000)	(200,000)

What will be the amount of the noncontrolling interest in the consolidated balance sheet, and how will it be displayed in the consolidated balance sheet?

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Financial Accounting, Accounting

Category:- Financial Accounting
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