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What is the total noncontrolling interest? Exercise 4-5 On January 1, 2014, Plate Company...

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Accounting

imageimageWhat is the total noncontrolling interest?

Exercise 4-5 On January 1, 2014, Plate Company purchased a 90% interest in the common stock of Set Company for $712,000, an amount $19,000 in excess of the book value of equity acquired. The excess relates to the understatement of Set Company's land holdings. Excerpts from the consolidated retained earnings section of the consolidated statements workpaper for the year ended December 31, 2014, follow: 1/1/14 retained earnings Net income from above Dividends declared 12/31/14 retained earnings to the balance sheet Set Company 201,500 141,400 (52,000 ) 290,900 Consolidated Balances 869,800 456,800 (93,200 ) 1,233,400 Set Company's stockholders' equity is composed of common stock and retained earnings only. Determine the total noncontrolling interest that will be reported on the consolidated balance sheet on December 31, 2014. How does the noncontrolling interest differ between the cost method and the equity method? (Round answer to 0 decimal places, e.g. 5,125.) 123,340 Total noncontrolling interest $L The noncontrolling interest will be un same under either of the methods v

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