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this doesn't give initial oustanding... Consolidated Worksheet at End of the First Year of Ownership (Equity Method) On January 1, 2022, Pumpkin Company acquired 100
this doesn't give initial oustanding...
Consolidated Worksheet at End of the First Year of Ownership (Equity Method) On January 1, 2022, Pumpkin Company acquired 100 percent of Spooky Company's net identifiable assets at underlying book value. Pumpkin uses the equity method in accounting for its ownership of Spooky On December 31,2022, the trial balances of the two companies are as follows: Required: a. Prepare the journal entries on Pumpkin's books for the acquisition of Spooky on January 1, 2022 as well as any normal equity method entry (ies) related to the investment in Spooky Company during 2022 . b. Prepare the consolidation entries needed as of December 31,2022 , to complete a consolidation worksheet. c. Prepare a three-part consolidation worksheet as of December 31, 2022 Step by Step Solution
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