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on january 1, pumpkin corporation acquired 70 percent of spice company's common stock for #210,000 cash. what amount will be reported as noncontrolling interest in the consolidated balance sheet immediately

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jepessoa

Answer:

$90,000

Explanation:

We are assuming that the $210,000 paid for 70% of Pumpkin Corporation represents a fair value for their stock. The non-controlling interest is 30% of the company's stocks and we can use the value paid to determine the value of the non-controlling interest.

Non-controlling interest = ($210,000 / 70) * 30 = $90,000

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