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Compute the total noncontrolling interest

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Reference no: EM132042064

Question - Park Company acquired an 80% interest in the common stock of Southdale Company for $1,540,000 on July 1, 2016.

Southdale Company's stockholders' equity on that date consisted of:

Common stock $800,000

Other contributed capital 400,000

Retained earnings 330,000

Required: Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:

1. Parent company concept.

2. Economic unit concept.

Reference no: EM132042064

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