On January 1, Beckman, Inc., acquires 60 percent of the
outstanding stock of Calvin for $48,960. Calvin Co. has one
recorded asset, a specialized production machine with a book value
of $19,900 and no liabilities. The fair value of the machine is
$68,400, and the remaining useful life is estimated to be 10 years.
Any remaining excess fair value is attributable to an unrecorded
process trade secret with an estimated future life of 4 years.
Calvin’s total acquisition date fair value is $81,600.
|At the end of
the year, Calvin reports the following in its financial
|Expenses||22,050||Other assets||23,090||Retained earnings||31,000|
|Net income||$||36,000||Total assets||$||41,000||Total equity||$||41,000|
Determine the amounts that Beckman should report in its year-end
What is the noncontrolling interest and subsidary income????
Total non controlling interest?????
Calvin’s Machine (net accumliated deprecation)