Essay
On January 1, 2014, Glenville Co. acquired an 80% interest in Acron Corp. for $500,000. There is no active trading market for Acron's stock. The fair value of Acron's net assets was $600,000 and Glenville accounts for its interest using the acquisition method.
Determine the value assigned to the non-controlling interest as of the date of the acquisition.
Correct Answer:
Verified
Correct Answer:
Verified
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