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Ali Dal Dany tink on Jan 1, Year I, Criant bought 80% of the Shures of Son for $20 million. At the time, the fair

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Ali Dal Dany tink on Jan 1, Year I, Criant bought 80% of the Shures of Son for $20 million. At the time, the fair value of the 20% nonControlling interest Was $4. a Million. The equity of Son on the date of aquisition Was $16 minion. Its Common Stuck- $ 1 million and retained earnings = $15 million. All assets and liabilities had fair value equal to book value, exept Son owned a building with a book value of 25 million and as far value of $30 million. During Year I, Son repeated revenues of $5 million and expenses ok 3 million. It is declared dividends of $300,ooo. Criant had net income from its own operations Cignoring its interest in Son of so million. As of the date, What Consolidation entry or entries are maded f Show work. Ali Dal Dany tink on Jan 1, Year I, Criant bought 80% of the Shures of Son for $20 million. At the time, the fair value of the 20% nonControlling interest Was $4. a Million. The equity of Son on the date of aquisition Was $16 minion. Its Common Stuck- $ 1 million and retained earnings = $15 million. All assets and liabilities had fair value equal to book value, exept Son owned a building with a book value of 25 million and as far value of $30 million. During Year I, Son repeated revenues of $5 million and expenses ok 3 million. It is declared dividends of $300,ooo. Criant had net income from its own operations Cignoring its interest in Son of so million. As of the date, What Consolidation entry or entries are maded f Show work

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