Lopez Ltd Purchases 65% of Wheatfall Co

question 13

Multiple Choice

Lopez Ltd. purchases 65% of Wheatfall Co. Under the entity method of consolidation, what is allocated to non-controlling interest?

• A)35% of Wheatfall's net assets at fair value
• B)35% of Wheatfall's net assets at carrying value
• C)35% of Wheatfall's net assets at carrying value plus 35% of Wheatfall's fair value increments excluding goodwill
• D)35% of Wheatfall's net assets at carrying value plus 35% of Wheatfall's fair value increments including goodwill

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