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On April 1 Pujols Inc exchanges $430000 fair-value consideration for 70 percent of the outstanding stock of Ramirez Corporation The remaining 30 percent of the outstanding shares continued to

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 declared no dividends. On a December 31 consolidated balance sheet, what amount should be reported as noncontrolling interest? a. $219,000 .

b. $237,000 .

c. $234,000 .

d. $250,500

Jul 22 2020 View more View Less

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