Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2020, pail corporation acquired 80 p

On January 1, 2020, Pail Corporation acquired 80 percent of Sand Company's common stock for...

90.2K

Verified Solution

Question

Accounting

image

On January 1, 2020, Pail Corporation acquired 80 percent of Sand Company's common stock for $720,000 cash. The fair value of the noncontrolling interest at that date was determined to be $180,000. At December 31, 2020, Pail reported on its general ledger Investment in Sand at $794000. What amount of Investment in Sand would be reported on the 12/31/20 consolidated Balance Sheet

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Assume that 20% of U.S. adults subscribe to the \"five-second rule.\" That is, they would eat...

Basic Math
Q

People say same-sex marriage devalues the traditional marriage. What is your opinion on the issue?

Psychology
Q

When biologists speak of a UNIVERSAL GENETIC CODE they are referring to the fact that,...

Biology
Q

Test scores in a large organic chemistry class are normally distributed with a mean of...

Basic Math
Q

10 The following shows the average salaries based on age for two companies Age 20...

Algebra
Q

Wipeout started his own consulting firm, Total Wipeout Consultancy, on July 1, 2018. The trial...

Accounting
Q

1 The ledger of Uniform Ltd on 30 June of the current year includes these...

Accounting
Q

Hunter Photography's checkbook lists the following: (Click the icon to view the checkbook.) Read the...

Accounting
Q

In 2017, the Kross Company reports income from continuing operations before income tax of $500,000....

Accounting
Q

A machine is purchased by making payments of $14500 at the beginning of each of...

Accounting
Q

Future Value of a Single Payment If you deposit $3,000 in a bank account that...

Finance
Q

Suppose you have the following possible risky investments (A,B,C,D) and a risk free investment (RF)...

Finance