Solved

Frey LtdAcquired 70% of Sabo Ltd

Question 3

Multiple Choice

Frey Ltd.acquired 70% of Sabo Ltd.in 20X4.On January 1,20X8,Frey acquired another 10% of Sabo's common shares for $250,000.Under the parent-company extension method,the balance of the non-controlling interest at December 31,20X7 was $600,000.What adjustment should be made to consolidated shareholders' equity to reflect Frey's additional purchase of shares?


A) $50,000
B) $66,667
C) $200,000
D) $250,000

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents