Oriole Company acquired an 80% interest in the common stock of Sunland Company for $1,540,400 on July 1, 2022. Sunland Company's stockholders' equity on that date consisted of: Common stock Other contributed capital Retained earnings Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: (1) (2) (1) $802,900 404,900 332,700 (2) parent company concept. economic unit concept. Parent company concept Economic unit concept Total Noncontrolling Interest $ SA 308180 308100

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is