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this is whole question.i dont have additional information. Adams Corporation acquired 90 percent of the outstanding voting shares of Barstow, Inc., on December 31, 2019.
this is whole question.i dont have additional information.
Adams Corporation acquired 90 percent of the outstanding voting shares of Barstow, Inc., on December 31, 2019. Adams paid a total of $603,000 in cash for these shares. The 10 percent noncontrolling interest shares traded on a daily basis at fair value of $67,000 both before and after Adams's acquisition. On December 31, 2019, Barstow had the following account balances: December 31, 2021, adjusted trial balances for the two companies follow: At year-end, there were no intra-entity receivables or payables: a. Prepare schedules for acquisition-date fair-value allocations and amortizations for Adams's investment in Barstow. b. Determine Adams's method of accounting for its investment in Barstow. c.8d. Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., a5 of December 31, 2021. consolidation enties are required, combet for Adams Corporation and Barstow, Inci, as of Decernber 31, 2021. (For accounts where multipie consolidation enties are required, combine all debit entries into one amount and enter this ameunt in the debit column of the worksheet. Similiarly. combine all credit entries Into one amount and enter this amount in the credit columin of the worksheet. Input ali amounts as positive values.) Step by Step Solution
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