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Please answer the journal entries Need correct answers thank you! On June 10, 20x8, Private Corporation acquired 60 percent of Secret Company's common stock. The

Please answer the journal entries
Need correct answers thank you!
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image text in transcribed
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On June 10, 20x8, Private Corporation acquired 60 percent of Secret Company's common stock. The fair value of the noncontrolling interest was $31,200 on that date. Summarized balance sheet data for the two companies immediately after the stock purchase are as follows: Required: a. Record the consolidation entries required to prepare consolidated balance sheet immediately after the purchase of Secret Company shares. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries Record the basic consolidation entry. Note: Enter debits before credits. Consolidation Worksheet Entries Record the excess value (differential) reclassification entry. Note: Enter debits before credits

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