Consolidation Eliminating Entries, Date of Acquisition and Two Years Later Plaza Hotels acquired a 90 percent...

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Consolidation Eliminating Entries, Date of Acquisition and Two Years Later Plaza Hotels acquired a 90 percent interest in Sta

Ratio $ Total goodwill Allocation to controlling Interests Allocation to noncontrolling Interests Amount 50,000,000 X 4,500,0

07 O C. Prepare the consolidation eliminating entries (C). (E). (R). (O) and (N) at December 31, 2021. Enter your answers in

business accounting

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Answer 1

Answer #1

Consolidation Entry , Elimination , Non controlling Interest ( NCI)
Plaza hotel acquired 90% Interest in Stardust Casions$						5,11,00,000
Fair value of 10% NCI at the date of acquisition $						29,00,000
Calculation of Goodwill
Plaza hotel acquired 90% Interest in Stardust Casions$
Purchased cost						5,11,00,000
Add- fair value of NCI						29,00,000
Total Fair value						5,40,00,000

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Answer 2

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