Use the Following Information to Answer Question(s) Below

question 9

Multiple Choice

Use the following information to answer question(s) below.

On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below:

-What is the reported amount for the noncontrolling interest?

• A)$80,000
• B)$84,400
• C)$98,000
• D)$122,500

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Definitions:

Written

Refers to the expression of language in a textual medium, through the use of characters or symbols.

Non-audible Communication

Communication that occurs through means other than spoken words, such as body language, facial expressions, or written texts.

Facial Expressions

The movements of the facial muscles that convey emotional states, intentions, or social information to others.

Body Posture

The arrangement or position of the body and its parts, which can communicate nonverbal cues or physical well-being.