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only do d-f. I will like the answer you give Peace Corporation acquired 75 percent of the ownership of Symbol Compony on Januory 1, 20X1.
only do d-f. I will like the answer you give
Peace Corporation acquired 75 percent of the ownership of Symbol Compony on Januory 1, 20X1. The fair value of the noncontrolling interest at acquisition was equal to its proportionote shore of the fair value of the net assets of Symbol. The full amount of the differential ot acquisition wos attributoble to buildings and equipment, which had a remaining useful life of eight yeors. Financial stotement doto for the two componies and the consolidated entity at December 31,206, are os follows: All unrealized profit on intercompony inventory sales on January 1, 20X6, were eliminated on Peace's books. All unrealized inventory profits at December 31,206, were elimineted on Symbol's books. Assume Peoce uses the folly adjusted equity method and that Peace does not make the optional deprecistion consolidetion worksheet entry. d. What bolance does Peoce report as its investment in 5y mbol at December 31, 20x6? e. What smount of intercorporate sales of inventory occurred in 206 ? f. What smount of unrealized inventory profit exists ot December 31,206Step by Step Solution
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