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balu736 [363]
3 years ago
11

The acquisition value attributable to the non-controlling interest at January 1, 2019 is: A) $23,400. B) $24,000. C) $24,900. D)

$26,000. E) $20,000.

Business
1 answer:
erastova [34]3 years ago
7 0

Answer:

D) $26,000

Explanation:

The computation of the acquisition value associated with the non-controlling interest is shown below:

= Cash ÷ acquiring percentage × non- owning percentage

= $234,000 ÷ 0.90 × 0.10

= $26,000

It is computed by simply applied the above formula so that the acquisition value in case of non controlling interest could arrive and the same is to be considered

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Answer:

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Explanation:

a) Data and Calculations:

Account                                       Debit    Credit

Merchandise inventory, 7/1/17 33,000

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Purchases                             250,000

Purchase discounts                                7,000

Purchase returns                                   11,000

Freight-in                                19,000

Merchandise inventory, 7/1/17        $33,000

Purchases                                       250,000

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Purchase returns                              (11,000)

Freight-in                                           19,000

Cost of goods available for sale $284,000

June 30, 2018, inventory balance $41,000

Cost of goods sold                     $243,000

Adjusting Entry:

Debit Cost of Goods Sold $243,000

Debit Purchases discounts $7,000

Credit Freight-in $19,000

Credit Inventory $231,000

To record the cost of goods sold.

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