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Pro Corporation purchased 1 2 , 0 0 0 shares of Schroeder Corporation on January 1 , 2 0 X 3 , at book value.

Pro Corporation purchased 12,000 shares of Schroeder Corporation on January 1,20X3, at book value. At that date, the falr
the noncontrolling Interest was equal to 20.0 percent of Schroeder's book value. On December 31,20X8, Schroeder report
balance sheet amounts:
On January 1,20X9, Schroeder issued an additional 3,000 shares of its $10 par value common stock to Nonaffillated Comp
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
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 Immediately after Schroeder's Issuance
additional shares.
Complete this question by entering your answers in the tabs below.
Record the consolidation entry needed to prepare a consolidated balance sheet immediately after Schroeder's issuance of additio
shares.
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 basic consolidation entry.
Note: Enter debits before credits.
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