On January 1, 2020 High Ltd. Purchased 70% of the shares of Low Ltd. for $2,100,000...

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On January 1, 2020 High Ltd. Purchased 70% of the shares of Low Ltd. for $2,100,000 and on the same day, Low Ltd. purchased 65% of the shares of Middle Ltd. for $1,950,000. Any fair value increment/decrement was fully allocated to land. At January 1, 2020 High Ltd. Low Ltd. Middle Ltd. Shares $ 5,000,000 $ 4,200,000 $ 500,000 3,500,000 $ 7,700,000 Retained Earnings 10,000,000 1,750,000 $ 15,000,000 $ 2,250,000 Net Income (cost basis) $ 2,500,000 $ 1,000,000 $ 800,000 Dividends paid 350,000 200,000 100,000 There were no intercompany transactions. Instructions: Enter all numbers without dollar signs. Round numbers to the nearest whole dollar do not enter any decimals in your number. Use commas properly. If the amount is zero, enter 0, do not leave any answers blank. For example, a properly formatted number is 125,250. Numbers incorrectly formatted with not result in any marks. Based on the consolidated statement of High Ltd at December 31, 2020, under the entity method determine the following: The non-controlling interest in Middle Ltd. The non-controlling interest in Low Ltd. The total non-controlling interest On January 1, 2020 High Ltd. Purchased 70% of the shares of Low Ltd. for $2,100,000 and on the same day, Low Ltd. purchased 65% of the shares of Middle Ltd. for $1,950,000. Any fair value increment/decrement was fully allocated to land. At January 1, 2020 High Ltd. Low Ltd. Middle Ltd. Shares $ 5,000,000 $ 4,200,000 $ 500,000 3,500,000 $ 7,700,000 Retained Earnings 10,000,000 1,750,000 $ 15,000,000 $ 2,250,000 Net Income (cost basis) $ 2,500,000 $ 1,000,000 $ 800,000 Dividends paid 350,000 200,000 100,000 There were no intercompany transactions. Instructions: Enter all numbers without dollar signs. Round numbers to the nearest whole dollar do not enter any decimals in your number. Use commas properly. If the amount is zero, enter 0, do not leave any answers blank. For example, a properly formatted number is 125,250. Numbers incorrectly formatted with not result in any marks. Based on the consolidated statement of High Ltd at December 31, 2020, under the entity method determine the following: The non-controlling interest in Middle Ltd. The non-controlling interest in Low Ltd. The total non-controlling interest

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Noncontrolling interest A noncontrolling interest NCI in a corpor... View the full answer