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QUESTION 2 Company P purchased 70% stock in Company Son Jan 1, 20x1 for $80,000 cash. Just before acquisition, the cash balance of wis $150,000

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QUESTION 2 Company P purchased 70% stock in Company Son Jan 1, 20x1 for $80,000 cash. Just before acquisition, the cash balance of wis $150,000 and the cash balance of Company S was $40,000. in the consolidated balance sheet after the acquisition, the cash balance will be reported at $50,000 $160,000 $90,000 $110,000

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