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Park Company Acquired an 80% Interest in the Common Stock

Question 6

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Park Company acquired an 80% interest in the common stock of Southdale Company for $1,540,000 on July 1, 2016. Southdale Company's stockholders' equity on that date consisted of: Park Company acquired an 80% interest in the common stock of Southdale Company for $1,540,000 on July 1, 2016. Southdale Company's stockholders' equity on that date consisted of: Required: Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the: (1) parent company concept. (2) economic unit concept. Required:
Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:
(1) parent company concept.
(2) economic unit concept.

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