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Post Delvery Service acquired at book value 80 percent of the voting shates of Script Real Estate Company. On that date, the fair value of

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Post Delvery Service acquired at book value 80 percent of the voting shates of Script Real Estate Company. On that date, the fair value of the noncontroling interest was equal to 20 percent of Soript's book value. Script Real Estate reported common stock of $400,000 and retaned eamings of $110,000. During 203. Post Detivery provided courler senvices for Script Reat Estate in the amount of $15,000. Also during 203. Scnipt Real Estate purchased land for \$1,000. It sold the land to Post Deflvery Service for $21,000 so that: Post Delivery could bulld a new transportation center. Post Delivery reported \$57,000 of operating income from its delivery operations in 203. Script Real Estate reported net income of $63,000 and pald dikdends of $9,000 in 203. Required: a. Compute consclidated net lincome for 203. b. Prepare all journal entries recorded by Post Delivery Servce related to its investment in Serpt Real Estate assuming Post uses the fully adjusted equity method in accounting for the invertment. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the dividends from Script Reat Eitate. Consolidation Worksheet Entries Whold the basic conset fation entry

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