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about P5-5 chapter 5 advanced accounting 12th edition by Beams, can i get step by step (including all transaction that affecting) and the consolidation workpaper
about P5-5 chapter 5 advanced accounting 12th edition by Beams, can i get step by step (including all transaction that affecting) and the consolidation workpaper for this case solution? thank you
On February 20, 2012, Angel AG acquired all common stock of Mark AG. The book value of Mark AG's net assets was equal to the fair value at the acquisition date. Mark AG regularly sold inventories to Angel AG with 10 percent mark up. In 2014, $200,000 of Angel AG's beginning inventory was purchased from Mark AG. The trial balances of both companies for the year ended 2014 are as follows (in thousands): Angel AG Mark AG Debits Cash Accounts recelvable s 400 s 300 s 400 $ 4,900 $4,000 $ 4,500 $ 800 300 15,600 $ 100 s 200 $ 500 3,600 Inventory Plant Asset Investment in Mark AG s 3,000 1,000 $ 200 $ 8,600 Cost of sales Other expenses Dividends Total Credits 1,200 s 3,000 4,400 7,000 $ 15,600 200 s2,000 $ 1.400 5,000 8,600 Accounts payable Common stock Retained Earnings Sales Total Angel AG's ending inventory 25 percent are purchased from Mark AG and $1,100 of Mark AG's sales are sales to Angel AG. Required Prepare a consolidation workpapers for Angel AG and subsidiary for the year ended December 31, 2014Step by Step Solution
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