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25-11-2022
Business

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bristle corporation acquired 75% of silver corporation's common stock on december 31, 2020, for $300,000. the fair value of the noncontrolling interest at that date was determined to be $100,000. silver's balance sheet immediately before the combination reflected the following balances: a careful review of the fair value of silver's assets and liabilities indicated that inventory, land, and buildings and equipment (net) had fair values of $65,000, $100,000, and, $300,000 respectively. goodwill is assigned proportionately to bristle and the noncontrolling shareholders.

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