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only do g h and I please already did a-f Peace Corporation acquired 75 percent of the ownership of Symbol Company on January 1, 201.
only do g h and I please already did a-f
Peace Corporation acquired 75 percent of the ownership of Symbol Company on January 1, 201. The falr value of the noncontrolling Interest at acquisition was equal to its proportionate share of the falr value of the net assets of Symbol. The full amount of the differential at acquisition was attributable to buildings and equipment, which had a remaining useful life of eight years. Financial statement data for the two companies and the consolidated entity at December 31,206, are as follows: All unrealized profit on Intercompany Inventory sales on January 1, 20X6, were eliminated on Peace's books. All unrealized Inventory profits at December 31,206, were eliminated on Symbol's books. Assume Peace uses the fully adjusted equity method and that Peace does not make the optional depreclation consolidation worksheet entry. Prepare the consolidation entry used in eliminating Intercompany Inventory sales during 206 Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Consolidation Worksheet Entries Record the entry to eliminate the intercompany inventory sales. Note: Enter debits before credits. h. What was the amount of unrealized Inventory profit at January 1,206Step by Step Solution
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