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2. On January 1, 2014, Myna Corporation issued 10,000 shares of its own $10 par value common stock for 9,000 shares of the outstanding stock

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2. On January 1, 2014, Myna Corporation issued 10,000 shares of its own $10 par value common stock for 9,000 shares of the outstanding stock of Berry Corporation in an acquisition. Myna common stock at January 1, 2014 was selling at $70 per share. Just before the business combination, balance sheet information of the two corporations was as follows: Cash Inventories Other current assets Land Plant and equipment-net Myna Book Value $25,000 55,000 110,000 100,000 660.000 $950,000 Berry Book Value $12,000 32,000 90,000 30,000 250.000 $414,000 Berry Fair Value $12,000 36,000 110,000 90,000 375.000 $623.000 $50,000 Liabilities Capital stock, $10 par value Additional paid-in capital Retained earnings $220,000 500,000 170,000 60.000 $950,000 $50,000 100,000 40,000 224,000 $414.000 Required: 1. Prepare the journal entry on Myna Corporation's books to account for the investment in Berry Company in an Excel workbook 2. Prepare a consolidated balance sheet for Myna Corporation and Subsidiary immediately after the business combination in an Excel workbook

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