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MaGriff acquired 80% of CurloyQuo Company on January 1, 2021 for $102,000, On that acquisition date the fair value of the noncontrolling interest was $48,000

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MaGriff acquired 80% of CurloyQuo Company on January 1, 2021 for $102,000, On that acquisition date the fair value of the noncontrolling interest was $48,000 On the acquisition date, CurleyQue reported retained earnings of $50,000 and common stock outstanding of $100,000 MaGriff uses the equity method in accounting for the investment in Curleyque. Assume also that CurleyQue reported the following during 2021 OR at the end of 2021, December 31: Dividends Declared.. $ 15,000 Net Income. 35,000 Goodwill Impairment. 3,000 INSTRUCTIONS: Provide correct answers for the indicated blank spaces. Follow the requirements: 1. IF the dollar amount is in a journal entry, DO NO included a dollar sign with that dollar amount. Otherwise, include a dollar sign for dollar amount 2. Include a comma delimiter for dollar amounts where appropriate, eg this 6,750 NOT THIS 6750. 3. Account names MUST be spelled correctly. A listing of account names is as follows: Books of MaGriff cash investment in Curley Que income from Curley Que dividend incomo Loss due to impairment

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