On January 1, 2014, Lennon Corporation acquires 100% of Ono Inc. for $220,000 in cash. The condensed
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Prepare a worksheet for a consolidated balance sheet.
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Lennon Ono Corporation Inc. $ 60,000 220,000 300,000 $ 50,000 Current assets Investment in Ono Inc. common stock Plant and equipment (net) 220,000 $270,000 $ 50,000 80,000 140,000 $580,000 Current liabilities $180,000 230,000 170,000 Common stock Retained earnings $580,000 $270,000
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Related Book For
Financial Accounting
ISBN: 978-1119491057
8th edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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