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On January 1, 2023, Mona, Incorporated, acquired 90 percent of Lisa Company's common stock as well as 70 percent of its preferred shares. Mona paid

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On January 1, 2023, Mona, Incorporated, acquired 90 percent of Lisa Company's common stock as well as 70 percent of its preferred shares. Mona paid $79,000 in cash for the preferred stock, with a call value of 110 percent of the $50 per share par value. The remaining 30 percent of the preferred shares traded at a $48,000 fair value. Mona paid $585,000 for the common stock. At the acquisition date, the noncontroling interest in the common stock had a fair value of $65,000. The excess falf value over Lisa's book value was attributed to franchise contracts of $41,000. Thisintangible asset is being amortized over a 20 -year period. Lisa pays ail preferred stock dividends (a total of $22,000 per year) on an annual bask. During 2023, Lisa's book value increased by $120,000. On January 2, 2023, Mona acquired one -half of Lisa's outstanding bonds poyable to reduce the business combination's debt position. Lisa's bonds had a face value of $100,000 and paid cash interest of 6 percent per yeat. These bonds had been issued to the public to yield 10 percent. Interent is pald each December 31. On January 2.2023, these bonds had a total $87,320 carrying amount. Mona paid $51,77, indicating an effective interest rate of 5 percent. On January 3, 2023, Mona sold Lifa fiked assets that had originally cost $114,000 but had accumulated depreciation of $60,000 when transferred. The transfer was made at a pice of $141,000. These assets were estimated to have a remaining usefut life of 15 years. The individual financial statements for these two compintes for the year ending December 31, 2024, are as follows: Note: Credits are indicated by parentheses. Required: o. What consolidation worksheet adjustments would have been required as of January 1, 2023, to eliminate the subsidiary's common and preferred stocks? b. What consolidation worksheet adjustments would have been required as of December 31, 2023, to account for Mona's purchase of Lisa's bonds? c. What consolidation worksheet adjustments would have been required as of December 31, 2023, to account for the intra entity satc of fised assets? d. Assume that consolidated financial statements are being prepared for the year ending December 31, 2024, Calculate the consolidated balance for each of the following accounts: Franchises Fixed Assets Accumulated Depreciation Expenses

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