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Polka Corporation acquired 1 0 0 percent of Song Company's voting stock on January 1 , 2 0 X 4 , at underlying book value.

Polka Corporation acquired 100 percent of Song Company's voting stock on January 1,20X4, at underlying book value.
Polka uses the equity method in accounting for its ownership of Song. On December 31,20X4, the trial balances of the two
companies are as follows:
Required:
a. Prepare all consolidation entries required on December 31,204, to prepare consolidated financial statements.
Record the basic consolidation entry
Record the optional accumulated depreciation consolidation entry
b. Prepare a three-part consolidation worksheet as of December 31,204.
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