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Practicum Co. pad $1.2 million for an 80% interest in the common stock of Sarong Co....

Practicum Co. pad $1.2 million for an 80% interest in the common stock of Sarong Co. Practicum had no previous equity interest in Sarong. On the acquisition date, Sarong's identifiable net assets had a $1.3 million carrying amount, and their fair value equaled $1.4 million. The fair value of the noncontrolling interest (NCI) on the date of acquisition was $360,00. Practicum should record goodwill of? (please show work)

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Calculation of Goodwill Consideration paid for soil. Interest = $ 1,200,000 Add: fair value of Noncontrolling Inteust = $360,hope you liked my answer and if you do don't forget to give a Thumb's up.??

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