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Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the worksheet adjustments for
Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the worksheet adjustments for the December 31, 2021, consolidation of Corgan and Smashing. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction Accounts 1 1 Investment in Smashing Cost of goods sold 2 2 Common stock - Smashing Retained earnings - Smashing Investment in Smashing Noncontrolling interest Debit Credit 46,875 850,000 > > 446,875 x 907,812 x 389,062 3 3 Covenants Investment in Smashing Noncontrolling interest 427,500 342,000 85,500 4 4 Equity in earnings of Smashing 183,000 Investment in Smashing 183,000 5 5 Investment in Smashing Dividends declared 42,000 42,000 6 6 Amortization expense Covenants >> 7 7 Sales Cost of goods sold 8 8 Cost of goods sold Inventory < Required A Required B > 27,500 27,500 x 270,000 270,000 93,750 40,625
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