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Accounting

Problem:

Rohan Corporation holds assets with a fair value of $150,000 and a book value of $125,000 and liabilities with a book value and a fair value of $50,000.

Required:

Question: What balance will be assigned to the noncontrolling interest in the consolidated balance sheet if Helms Company pays $90,000 to acquire 75% ownership in Rohan and goodwill of $20,000 is reported?

$30,000
$220,000
$40,000
$50,000

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165895

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