Business, 18.10.2019 19:10, lilspike420

Power corporation acquired 70 percent of silk corporation’s common stock on december 31, 20x2. balance sheet data for the two companies immediately following the acquisition follow: at the date of the business combination, the book values of silk’s net assets and liabilities approximated fair value except for inventory, which had a fair value of $85,000, and land, which had a fair value of $45,000. the fair value of the noncontrolling interest was $64,500 on december 31, 20x2.

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Power corporation acquired 70 percent of silk corporation’s common stock on december 31, 20x2. balan...