_____ On 1/1/06 Panto acquired 80% of the outstanding common stock of Santo. On that date, Santo had the following equity balances:
The preferred stock has a call premium of $20,000 and cumulative dividends in arrears of $60,000. The amount to be reported for the noncontrolling interest in a consolidated balance sheet on that date is:
A) $100,000.
B) $500,000.
C) $516,000.
D) $564,000.
E) None of the above.

Question

_____ On 1/1/06 Panto acquired 80% of the outstanding common stock of Santo. On that date, Santo had the following equity balances:
 The preferred stock has a call premium of $20,000 and cumulative dividends in arrears of $60,000. The amount to be reported for the noncontrolling interest in a consolidated balance sheet on that date is:
A) $100,000. 
B) $500,000. 
C) $516,000. 
D) $564,000. 
E) None of the above.

Quizplus · Accepted Answer

The Answer of _____ On 1/1/06 Panto acquired 80% of the outstanding common stock of Santo. On that date, Santo had the following equity balances:
 The preferred stock has a call premium of $20,000 and cumulative dividends in arrears of $60,000. The amount to be reported for the noncontrolling interest in a consolidated balance sheet on that date is:
A) $100,000. 
B) $500,000. 
C) $516,000. 
D) $564,000. 
E) None of the above.

_____ on 1/1/06 Panto Acquired 80% of the Outstanding Common