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Pint Enterprises acquired 100 percent of Saloon Builders' stock on December 31, 20X4. Balance sheet data for Pint and Saloon on January 1, 20X5, are
Pint Enterprises acquired 100 percent of Saloon Builders' stock on December 31, 20X4. Balance sheet data for Pint and Saloon on January 1, 20X5, are as follows: At the date of the business combination, Saloon's cash and receivables had a fair value of $36,000, inventory had a fair value of $368,000, and buildings and equipment had a fair value of $98,000. Required: a. Prepare all consolidating entries needed to prepare a consolidated balance sheet on January 1, 205. b. Complete a consolidated balance sheet worksheet. c. Prepare a consolidated balance sheet. Complete this question by entering your answers in the tabs below. Prepare all consolidating entries needed to prepare a consolidated balance sheet on January 1,205. Pint Enterprises acquired 100 percent of Saloon Builders' stock on December 31, 20X4. Balance sheet data for Pint and Saloon on January 1, 20X5, are as follows: At the date of the business combination, Saloon's cash and receivables had a fair value of $36,000, inventory had a fair value of $368,000, and buildings and equipment had a fair value of $98,000. Required: a. Prepare all consolidating entries needed to prepare a consolidated balance sheet on January 1, 205. b. Complete a consolidated balance sheet worksheet. c. Prepare a consolidated balance sheet. Complete this question by entering your answers in the tabs below. Prepare all consolidating entries needed to prepare a consolidated balance sheet on January 1,205
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