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  1. business
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  3. 3. on january 1, 2017, annick co. acquired 60% of

3. On January 1, 2017, Annick Co. acquired 60% of Noah Inc. by paying $650,000....

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Accounting

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3. On January 1, 2017, Annick Co. acquired 60% of Noah Inc. by paying $650,000. This amount included a $20.000 control premium. Noah reported common stock on that date of $420,000 with retained earnings of $252,000. A building was undervalued on Noah's financial records by $28,000. This building had a ten- year remaining life. Unrecorded copyrights with fair values of $80,000 were to be recognized and amortized over 20 years Noah earned income and paid cash dividends as follows: Net income Dividends paid 2017 2018 2019 $105,000 134,400 154,000 $45,600 61,600 84,000 Prepare the 2018 A1 consolidation entry that would be made to record Goodwill and allocate it between the controlling and non-controlling interest

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