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Price Corporation acquired 100 percent ownership of Saver Company on January 1,208, for $128,000. At that date, the fair value of Saver's buildings and equipment
Price Corporation acquired 100 percent ownership of Saver Company on January 1,208, for $128,000. At that date, the fair value of Saver's buildings and equipment was $20,000 more than the book value. Buildings and equipment are depreciated on a 10-year basis. Saver shares had been impaired and the correct carrying value was $2,500. Trial balance data for Price and Saver on December 31, 20X8, are as follows: Required: a. Prepare all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 208. b. Prepare a three-part consolidation worksheet for 208 in good form. Complete this question by entering your answers in the tabs below
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