On January 2, 2008, Pare Company purchased 75 percent of Kidd Company's outstanding common stock. Selected balance sheet data at December 31, 20X8, is as follows:

Pare Kidd
Company Company
Total Assets $420,000 $180,000
Liabilities $120,000 $ 60,000
Common Stock 100,000 50,000
Retained Earnings 200,000 70,000
$420,000 $180,000

In Pare's December 31, 20X8, consolidated balance sheet, what amount should be reported as a minority interest in net assets?
a. $0.
b. $30,000.
c. $45,000.
d. $105,000.

26. In its consolidated balance sheet at December 31, 20X8, what amount should Pare report as common stock outstanding?
a. $50,000.
b. $100,000.
c. $137,500.
d. $150,000.

Answer rating: 100% (QA)

Part 1 The correct option 30000 Net assets of Kid Company Total Assets Liabilities 180000 60000 ... View the full answer