Common stock-Acquiring Company APIC-Acquiring Company Retained Earnings-Acquiring Company Inventory Plant Assets (net) 200,000 300,000 250,000 75,000 105,000 70,000 200,000 Patent Goodwill Investment...

1) The working paper eliminating entry recorded by Acquired Company on January 1, 20x7, the date of acquisition of its subsidiary is presented below. Of the goodwill recorded, 30,000 belong to the non-controlling interest. Determine the percentage of outstanding voting shares of the subsidiary acquired by the parent.

Extracted text: Common stock-Acquiring Company APIC-Acquiring Company Retained Earnings-Acquiring Company Inventory Plant Assets (net) 200,000 300,000 250,000 75,000 105,000 70,000 200,000 Patent Goodwill Investment in Acquiring Company Non-controlling interest in Acquired Company 920,000 280,000