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vagabundo [1.1K]
3 years ago
9

1. A company issues new stock with a fair value of $120,000 to acquire 85% of the stock of another company. The fair value of th

e noncontrolling interest at the date of acquisition is $19,000, and the book value of the acquired company is $15,000. The subsidiary's net assets are reported at amounts approximating fair value at the date of acquisition, except that its plant assets are overvalued by $25,000, its reported license agreements are undervalued by $30,000, and it has previously unreported identifiable intangible assets with a fair value of $50,000. At what amount is the noncontrolling interest valued at the date of acquisition, following the alternative method allowed by IFRS? A. $10,500 B. $ 2,250 C. $19,000 D. $18,000
Business
1 answer:
Delicious77 [7]3 years ago
4 0

Answer:

A. $10,500

Explanation:

FV of IDNA:  

Book value                                                     $ 15,000

Revalued plant assets                                    ($25,000)

license agreements                                           $30,000

Intangible assets                                             $50,000

                                                                           $ 70,000

Non-controlling interest valued at the date of acquisition, following the alternative method allowed by IFRS = 15% * 70,000 =  $10,500.

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