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Pope Company acquired an 80% interest in the commo...

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Pope Company acquired an 80% interest in the common stock of Simon Company for $1,540,000 on July 1, 2011. Simon Company's stockholder's equity on that date consisted of: Common Stock $800,000; Other Contributed Capital $400,000; Retained Earnings $330,000. Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: 1) Parent company concept 2) Economic Unit Concept.

 

Paper#11300 | Written in 18-Jul-2015

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