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Hawkeye Corporation acquired 7 5 percent of Gopher Trial balance data for Hawkeye Corporation and Gopher Company on December 3 1 , 2 0 X
Hawkeye Corporation acquired percent of Gopher Trial balance data for Hawkeye Corporation and Gopher Company on December X are as follows:
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Give all consolidation entries needed to prepare a threepart consolidation worksheet as of December
Prepare a threepart consolidation worksheet for X in good form.Companys ownership on January X for $ At that date, the fair value of the noncontrolling interest was $ The book value of Gophers net assets at acquisition was $ The book values and fair values of Gophers assets and liabilities were equal, except for Gophers buildings and equipment, which were worth $ more than book value. Accumulated depreciation on the buildings and equipment was $ on the acquisition date. Buildings and equipment are depreciated on a year basis. Although goodwill is not amortized, the management of Hawkeye concluded at December X that goodwill from its purchase of Gopher shares had been impaired and the correct carrying amount was $ Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders.
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