Question
Punt Inc. (Punt), headquartered in Columbus, Ohio, manufactures and sells football equipment. Punt is a client of BuckeyeCPAs. During the year, Punt aquired 100% of
Punt Inc. (Punt), headquartered in Columbus, Ohio, manufactures and sells football equipment. Punt is a client of BuckeyeCPAs. During the year, Punt aquired 100% of Scrimmage Snap, Inc., (SS). Since this is the first time that Punt has completed a consolidation worksheet, Punt's internal accounting department has asked BuckeyeCPAs to review the consolidation prepared for the year ended December 31, Year 2. An associate at BuckeyeCPAs has performed an initial review of the consolidation worksheet and has drafted an email to the head of accounting at Punt with comments and required changes. Your manager has asked you to review the email below and to make any revisions necessary to correct any errors.
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