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fix the journal entries please i answered part B already Polka Corporation acquired 100 percent of Song Company's voting stock on January 1. 20X4, at
fix the journal entries please i answered part B already
Polka Corporation acquired 100 percent of Song Company's voting stock on January 1. 20X4, at underlying book value. Polka uses the equity method in accounting for its ownership of Song. On December 31, 20X4, the trial balances of the two companies afe as follows. Required: a. Prepare all consolidation entries required on December 31, 20X4, to prepare consolidated financial statements. b. Prepare a three-part consolidation worksheet as of December 31. 204. Complete this question by entering your answers in the tabs below. Prepare all consolidation entrles required on December 31,204, to prepare consolidated financial statements. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field Step by Step Solution
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