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Assume that Big Co . acquired 7 0 % of Little Co stock on 1 / 1 / 2 3 for $ 3 5 0
Assume that Big Co acquired of Little Co stock on for $ The fair
value of the noncontrolling interest was $ on that date. Little's book value was
$; they had common stock of $ and Retained Earnings of $
The entire $ differential was attributed to patents with a year remaining useful
life. In Little reported earnings of $ and paid no dividends.
On Big purchased $ of bonds which Little had issued several years earlie
at par value. The bonds mature on years from and pay interest of
annually each Big purchased the bonds for $ a yield of Big
uses the effective interest method of amortization.
Required: Prepare consolidationelimination entries for
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