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On January 1, 20X8, Vector Company acquired 80 percent of Scalar Company's ownership on for $120,000 Cash. ( The Rest of the Question in attachment)

On January 1, 20X8, Vector Company acquired 80 percent of Scalar Company's ownership on for $120,000 Cash.( The Rest of the Question in attachment)

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\fPrimary Computations At Acquisiontion Date January 1, 2008 Fair Value of Consideration Transferred From Controlling 120,000 From Non -Controlling 30,000 150,000 2) Book Value of Net Assets Recieved Given 125,000 3) Excess of Fair Value over Book Value Alloted to: Under valued building & Equipment Total 25,000 15,000 10,000 25,000 Year 10 0 At Consolidation Date December 31, 2009 5 - Income from Scalar Reported Net Income 24,000 (x) Controlling Interest Percentage 80% Total 19,200 6- NCI in Net Income of Scalar Adjusted Net Income (x) Non-Controlling Interest % Total 7 - Dividend from Scalar Scalar Dividend (x) Controlling Interest % Total 8 - NCI Share of Scalar Dividend 24,000 20% 4,800 10,000 80% 8,000 Amortization 1500 0 1,500 Scalar Dividend (x) Controlling Interest % Total 10,000 20% 2,000 a) eliminating entries needed to prepare a full set of consolidated financial statements for 20X5 Basic Elimination Entry Common Stock Retained Earnings Income From Scalar NCI in NI of Scalar Dividends Decleard Investment In Bromze NCI in NA of Scalar Amortization excess value reclassification Depreciation Expenses Income from Scalar NCI in NI of Scalar Excess value reclassification Building and Equipment` Goodwill Accumulated Depreciation Investment in Scalar NCI in NA of Scalar Elimination of Intercompany accounts 100,000 50,000 19,200 4,800 10,000 131,200 32,800 1,500 1,200 300 15,000 5,000 3,000 13,600 3,400 b. Prepare a three-part consolidation worksheet for 20X9 in good form

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