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On January 1, 2019, Parflex Corporation exchanged $344,000 cash for 90 percent of Eagle Corporation's outstanding voting stock. Eagle's acquisition date balance sheet follows: On
On January 1, 2019, Parflex Corporation exchanged $344,000 cash for 90 percent of Eagle Corporation's outstanding voting stock. Eagle's acquisition date balance sheet follows: On January 1, 2019, Parflex prepared the following fair-value allocation schedule: The companies' financial statements for the year ending December 31,2021 , follow: 1 At year-end, there were no intra-entity receivables or payables. a. Compute the goodwill allocation to the controlling and noncontrolling interest. b. Show how Parflex determined its "Investment in Eagle" account balance. c. Determine the amounts that should appear on Parflex's December 31, 2021, consolidated statement of financial position and its 2021 consolidated income statement. Complete this question by entering your answers in the tabs below. Compute the goodwill allocation to the controlling and noncontrolling interest. Required B Show how Parflex determineu its "Investment in Eagle" account balance. PARFLEX CORPORATION AND EAGLE CORPORATION Consolidation Worksheet For Year Ending December 31, 2021
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