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E3.7 nterpreting Eliminating Entries The following two consolidation eliminating entries were Lo 4 made immediately following Plains' acquisition of a 100 percent ownership interest in
E3.7 nterpreting Eliminating Entries The following two consolidation eliminating entries were Lo 4 made immediately following Plains' acquisition of a 100 percent ownership interest in Seaboard for $88,000,000 cash: Stockholders' equity-Seaboard Investment in Seaboard 48,000,000 (R) Goodwill Noncurrent assets. 2,000,000 Investment in Seaboard Required Compute the following amounts: a. Book value of Seaboard at the date of acquisition. b. Excess paid over the book value of net assets acquired. c. Goodwill
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