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of Stengl's assets and liabilities are given below: In addition, Stengl has previously unrecorded identifiable intangible assets with a fair value of $500,000 that meet
of Stengl's assets and liabilities are given below: In addition, Stengl has previously unrecorded identifiable intangible assets with a fair value of $500,000 that meet ASC Topic 805 criteria for recognition. Required (a) Prepare the entry Pinnacle makes to record the acquisition on its own books. Enter numerical answers using all zeros (do not abbreviate to thousands or millions). (b) Prepare the working paper eliminating entries to consolidate the balance sheets of Pinnacle Corporation and Stengl Corporation at the date of acquisition. Enter numerical answers using all zeros (do not abbreviate to thousands or millions). (b) Prepare the working paper eliminating entries to consolidate the balance sheets of Pinnacle Corporation and Stengl Corporation at the date of acquisition. Enter numerical answers using all zeros (do not abbreviate to thousands or millions)
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