Grayson Ltd

question 34

Multiple Choice

Grayson Ltd. acquired 60% of the outstanding common shares of Goldberg Ltd. for $480,000. At the date of acquisition, Goldberg's shareholders' equity was $625,000. The goodwill at 100% has been determined to be $90,000 under the entity method.
-What is the amount of the non-controlling interest that should be reported under the entity method?

• A)$192,000
• B)$250,000
• C)$304,000
• D)$320,000

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Definitions:

Draining Blood

The process of removing blood from the body, typically done for medical reasons such as to relieve pressure from a hematoma or in therapeutic phlebotomy.

Diastolic Pressure

The lower number in a blood pressure reading, representing the pressure in the arteries when the heart rests between beats.

Systolic Pressure

The highest blood pressure measured in the arteries during the contraction phase of the heart cycle.

Korotkoff Sounds

Sounds heard over an artery when blood pressure is determined by the auscultatory method; caused by turbulent flow of blood.