Pro Corporation purchased $12,000$ shares of Schroeder Corporation on January $1,20$X$3,$ at book value. At that date, the falr value of

the noncontrolling Interest was equal to $20\mathrm{.}0$ percent of Schroeder's book value. On December $31,20$X$8,$ Schroeder reported these

balance sheet amounts:

On January $1,20$X$9,$ Schroeder issued an additional $3,000$ shares of its $$10$ par value common stock to Nonaffillated Company for $$60$

per share.

Required:

a$.$ Compute the change In book value of the shares held by Pro as a result of Schroeder's issuance of additional shares.

b$.$ Prepare the entry to be recorded on Pro's books to recognize the change in book value of the shares It holds, assuming the change

In book value is to be treated as an adjustment to additional pald$-$In capital.

c$.$ Record the consolidation entry needed to prepare a consolidated balance sheet Immedlately after Schroeder's Issuance of

additional shares.

Complete this question by entering your answers in the tabs below.

Prepare the entry to be recorded on Pro's books to recognize the change in book value of the shares it holds, assuming the change in

book value is to be treated as an adjustment to additional paid$-$in capital.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Consolidation

Worksheet Entries

A$.$

Record the entry to recognize the change in book value of the shares held.

Note: Enter debits before credits.