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Q4130%) On January 1,2015, Top Company acquired an 80% Interest in Grow Company for $480,000. The acquisition-date fair value of the 20% noncontrolling Interest's ownership

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Q4130%) On January 1,2015, Top Company acquired an 80% Interest in Grow Company for $480,000. The acquisition-date fair value of the 20% noncontrolling Interest's ownership shares was $102,500. Also as of that date, Grow reported total stockholders" equity of $400,000($100,000 in common stock and $300,000 in retained earnings. In setting the acquisition price, Top appraised four accounts at values different from the balances reported within Grow's financial records. Buildings(8-years life)................. ...... undervalued by $20,000 Land..................... .........undervalued by $60,000 Equipment(5-years life).......................undervalued by $12,500 Royalty agreement(20-year life)..........not recorded, valued at $30,000 . As of December 31, 2019, the trial balances of these two companies are as follows: Top Company Grow Company Debits 625 000 280 000 Current assets Investment in Grow Company 480 000 200 000 300 000 Land 640 000 290 000 Buildings(net) 380 000 160 000 Equitment(net) 550 000 190 000 Depreciation Expenses 4 #5 #* 2019/2020 ** FIED 1 4810110 20 000 1240 000 90 000 2965 000 Dividends Total debits Credits Liabilities Common Stock Retained earnings (1/1/2019) Revenues Dividend Income Total credits 300 000 100 000 480 000 360 000 985 000 480 000 704 000 780 000 16 000 2965 000 1240 000 Required: Prepare worksheet entries to conso for the year 2019. to consolidate the trial balances of Top Company and Grow Company ben

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