Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. what percentage of the retained earnings reported

What percentage of the retained earnings reported in the consolidated balance sheet is assigned to...

80.2K

Verified Solution

Question

Accounting

What percentage of the retained earnings reported in the consolidated balance sheet is assigned to the non-controlling interest at that date?


On January 1, 2020, Z Company acquired 75 percent of T Company's common stock for $870,000 cash. The fair value of the noncontrolling interest was determined to be 25 percent of the book value of T Company at that date.

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students