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Presented below are the balance sheets of Dental Works and Forgash Company at January 1, 2X13: Dental Works Balance Sheet Forgash Company Balance Sheet January
Presented below are the balance sheets of Dental Works and Forgash Company at January 1, 2X13: Dental Works Balance Sheet Forgash Company Balance Sheet January 1, 2X13 Cash January 1, 2X13 Cash $ 23 $110 Net Fixed Assets 127 Net Fixed Assets 290 Total Assets $150 Total Assets $400 $ 15 $ 35 85 140 Accounts Payable Long-term Bonds Pay. Stockholders' Equity Total Liab. & Equity Accounts Payable Long-term Bonds Pay. Stockholders' Equity Total Liab. & Equity 50 225 $150 $400 On January 1, 2X13, Forgash Company paid $80 for 100% of the outstanding shares of Dental Works. The fail market values of the assets and liabilities of Dental Works are the same as the book values. What elimination journal entry would be necessary in order to prepare a consolidated balance sheet immediately after the acquisition? What elimination journal entry would be necessary in order to prepare a consolidated balance sheet immediately after the acquisition? 50 Stockholders' Equity, Dental Works Goodwill 30 a. Investment in Dental Works 80 80 Stockholders' Equity, Dental Works Investment in Dental Works Ob. 80 80 Goodwill . Investment in Dental Works 80 80 Stockholders' Equity, Dental Works Goodwill Investment in Dental Works 50 Od. 30 Investment in Dental Works 50 Goodwill 30 Je. Stockholders' Equity, Dental Works 80
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