Business, 09.10.2019 23:00, omojay1257

On january 1, 2016, parker acquired 80% of the outstanding stock of calvin for $48,000. the remaining 20% is valued at $12,000. calvin has one recorded asset, a machine with a book value of $10,000 and no liabilities. the fair value of the machine is $50,000 on the acquisition date and has a useful life of 10 years. any remaining excess fair value is attributable to a patent with an estimated useful life of 5 years. during the year calvin reports sales of $100,000 and expenses of $60,000. calvin pays $10,000 in dividends during the year. what is the amount of non-controlling interest that would be reported on a consolidated balance sheet at the end of the year?

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On january 1, 2016, parker acquired 80% of the outstanding stock of calvin for $48,000. the remainin...