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On January 1 , 2 0 2 1 , Petunia Company purchased an 8 5 % interest in the capital stock of Sunflower Company for
On January Petunia Company purchased an interest in the capital stock of Sunflower Company for $Cash Shares of Petunia Company Petunia Company uses the equity method to record its investment in Sunflower Company. The plant is undervalued by vear remaining life and the equipment is overvalued by year remaining life on January Balance sheet for the Petunia and Sunflower at acquisition are included on the December Consolidation worksheets on the last pages. Required: Answer all questions in the spaces provided below. point What is the total fair value of Sunflower at acquisition? $ point What is the the goodwill of Sunflower at acquisition? $ point What is the amount of noncontrolling Interest reported at acquisition on the January balance sheet? $ point Prepare the working paper entry to eliminate any income earned from Sunflower Corporation during look to worksheet for amounts points Prepare the working paper entry to eliminate Petunia's investment in Sunflower at December I NEED HELP WITH THE ENTRIES PLEASE.
On January Petunia Company purchased an interest in the capital stock of
Sunflower Company for $Cash Shares of Petunia Company Petunia Company uses
the equity method to record its investment in Sunflower Company.
The plant is undervalued by vear remaining life and the equipment is overvalued by
year remaining life on January
Balance sheet for the Petunia and Sunflower at acquisition are included on the December
Consolidation worksheets on the last pages.
Required: Answer all questions in the spaces provided below.
point What is the total fair value of Sunflower at acquisition? $
point What is the the goodwill of Sunflower at acquisition? $
point What is the amount of noncontrolling Interest reported at acquisition
on the January balance sheet? $
point Prepare the working paper entry to eliminate any income earned from Sunflower
Corporation during look to worksheet for amounts
points Prepare the working paper entry to eliminate Petunia's investment in Sunflower
at December
I NEED HELP WITH THE ENTRIES PLEASE.
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