Question 1 (10 marks) On January 1, 20x8, Vector Company acquired 80 percent of Scalar Company's oynership on for $120,000 cash. At that date, the fair value of the noneontrolling interest was $30,000. The book value of Scalar's net assets at acquisition was $1.2. Required: Provide all eliminating entries needed to prepare a three-part consolidakion workshs ecember 31,209. Prepare a three-part consolidation worksheet for 209 in good form. Required: for 20X8. Question 4 (10 marks) percent of the book value of Strawberry Company. Strawberry Company outstanding of $350,000 and retained earnings of $100,000. During 20X8 reported net income of $60,000 and paid dividends of $3,000. In 20X9,S reported net income of $90,000 and paid dividends of $15,000. The following transactions occurred between Pie Company and Stra 20X8 and 209 : Strawberry Co. sold equipment to Pie Co. for a $42,000 gain on Deceml Co. had originally purchased the equipment for $140,000 and it had a ci on December 31,20X8. At the time of the purchase, Pie Co. estimated had a seven-year remaining useful life. Pie Co. sold land costing $90,0 June 28,209, for $110,000. Required: Give all eliminating entries needed to prepare a consolidation worksh Pie Co. uses the fully adjusted equity method to account for its inves Company. Cahtun Campary acquired 80 percent owners hip of Mota Company's voting 2unk ar undertying bark value. The fair value of the noncontrolling interest wo 20 peroetr of the book value of Mota Company, During 2008, Colton P s32000 and soild the full amount to Mota Company for $50,000. On Dece enting imvemary included $10,000 of items purchased from Colton. Also in imvernuyy for $80,000 and sold the units to Colton for $100,000. Colton purthase fram Mota in ending invertary on December 31, 2008. Summary for tive two companies revealed the following: Reguinad: a. Compute the amount to be reported as sales in the 208 consolidat 6. Compute the amount to be reported as cost of goods sold in the 20 WWhat amount of income will be assigned to the noncontrolling she onsolidated income statement? What amount of inoome will be assigned to the controlling intere come statement