Business combination achieved in stages 2. Angry Co. acquired 20% interest in Misery Co. many years ago. On January 1, 20x1, Angry acquired additional 40% interest in Misery for $300,000. On this date, Misery's net identifiable assets have a fair value of #690,000, and Angry's previous investment in Misery has a carrying amount of #128,000 and fair value of 138,000. Angry opted to measure the NCI at 'proportionate share'. How much is the good will?

Business combination achieved in stages 2. Angry Co. acquired 20% interest in Misery Co. many years ago. On January 1, 20x1, Angry acquired additional 40% interest in Misery for $300,000. On this date, Misery's net identifiable assets have a fair value of #690,000, and Angry's previous investment in Misery has a carrying amount of #128,000 and fair value of 138,000. Angry opted to measure the NCI at 'proportionate share'. How much is the good will?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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