2023 On April 1 Pujols Inc exchanges 430 000 fair value consideration for 70 percent of the outstanding stock of Ramirez | Assignments Online
2023 On April 1 Pujols Inc exchanges 430 000 fair value consideration for 70 percent of the outstanding stock of Ramirez | Assignments Online
Assignments Online 2023 Business Finance
On April 1, Pujols, Inc., exchanges $430,000 fair-value consideration for 70 percent of the outstanding stock of Ramirez Corporation. The remaining 30 percent of the outstanding shares continued to trade at a collective fair value of $165,000. Ramirez’s identifiable assets and liabilities each had book values that equaled their fair values on April 1 for a net total of $500,000. During the remainder of the year, Ramirez generates revenues of $600,000 and expenses of $360,000 and paid no dividends. On a December 31 consolidated balance sheet, what amount should be reported as noncontrolling interest?
$237,000
$234,000
$219,000
$250,500
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