please answer in detail with explanation computation formula with steps thanks no copy paste Stick Company reports net assets with a book value and fair value of $202.000. Paste Corporation acquires 75 percent ownership for $151,500. Paste reports net assets with a book value of $514,000 and a fair value of $642.000 at that time, excluding its investment in Stick Required: For each of the following, compute the amounts that would be reported immediately after the combination under current accounting practice: a. Consolidated net identifiable assets. b. Noncontrolling interest. a. Consolidated net identifiable assets b. Noncontrolling interest

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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please answer in detail with explanation computation formula with steps thanks no copy paste
Stick Company reports net assets with a book value and fair value of $202.000. Paste Corporation acquires 75 percent ownership for
$151,500. Paste reports net assets with a book value of $514,000 and a fair value of $642.000 at that time, excluding its investment in
Stick
Required:
For each of the following, compute the amounts that would be reported immediately after the combination under current accounting
practice:
a. Consolidated net identifiable assets.
b. Noncontrolling interest.
a. Consolidated net identifiable assets
b. Noncontrolling interest
Transcribed Image Text:please answer in detail with explanation computation formula with steps thanks no copy paste Stick Company reports net assets with a book value and fair value of $202.000. Paste Corporation acquires 75 percent ownership for $151,500. Paste reports net assets with a book value of $514,000 and a fair value of $642.000 at that time, excluding its investment in Stick Required: For each of the following, compute the amounts that would be reported immediately after the combination under current accounting practice: a. Consolidated net identifiable assets. b. Noncontrolling interest. a. Consolidated net identifiable assets b. Noncontrolling interest
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