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The following are selected accounts and balances for Jonah Company and Hill, Incorporated, as of December 3 1 , 2 0 2 4 . Several
The following are selected accounts and balances for Jonah Company and Hill, Incorporated, as of December Several of Jonah's accounts have been omitted. Credit balances are indicated by parenthesesDividends were declared and paid in the same period Revenues Accounts Cost of goods sold Depreciation expense Investment income Retained earnings, Dividends declared Current assets Land Buildings net Equipment net Liabilities stock Additional paidin capital Jonah Not given Not given Assume that Jonah acquired Hill on January by issuing shares of common stock having a par value of $ per share a fair value of $ eachOn January the following assets were either under or overvalued Select Assets Land Buildings Equipment Proprietary Database Direction Undervalued Overvalued Undervalued Appraised Value Value Useful Life Years Years Years Note: The proprietary database was developed internally by Hill Annual Excess Amortizations Accounts Allocation Useful Life Land Buildings years Equipment years Proprietary Database years Total Required : a Determine the December consolidated totals for the accounts given b requirement part can the consolidated totals be determined without knowing which method the parent used to account for the subsidiary the parent uses the equity method, what consolidation entries would be used on a worksheet
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