1.) Fred Corporation owns 90 percent of Winner Company's voting shares, acquired on March 21, 20X5, at book value. At that date, the fair value of the noncontrolling interest was equal to 10 percent of the book value of Winner Company.

2.) On January 1, 20X0, Winner paid $200,000 for equipment with a 10-year expected total economic life. The equipment was depreciated on a straight-line basis with no residual value. Winner sold the equipment to Fred on Jan. 1, 20X6, for $112,000; Fred also uses straight-line depreciation, no salvage, and expects the equipment to last as long as Fred did.

Prepare the consolidation Entries related to the equipment in 20x6 reports

3.) Fred sold land it had purchased for $40,000 on February 18, 20X7, to Winner for $60,000 on October 10, 20X7; Winner still has the land at the end of the year. Furthermore, Fred is still using the equipment purchased in 20X6. Prepare the consolidation Entries related to the equipment and land for 20X7.

4.) Prepare the equity method entries made by Fred for 20X7 related to the equipment and land.