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Timothy Company acquired all of Jackeline Company's outstanding stock on January 1, 2021, for $280 200 in cash. Jackoline had a book value of only
Timothy Company acquired all of Jackeline Company's outstanding stock on January 1, 2021, for $280 200 in cash. Jackoline had a book value of only 5199,400 on that date. However, equipment (having an eight-year remaining life) was undervalued by $56,000 on Jackeline's financial records. A building with a 20-year remaining life was overvalued by $15.900 In accounting for this movestment, Timothy used the equity method. During 2021, Jackeine reported net income of $42.000 and declared and paid dividends of $20,000. Selected accounts taken from the financial records of these two companies as of December 31, 2021, follow Timely Jackeline Reves-Operating 5442.0005167.000 Expenses 234.000 125,000 Equity in Jackline Emines E 398000 57000 Engine 730 70.00 5760 Becoming 13.00 179021 2 Common Stock 190.000 566000 Determine the following account balances as of December 31, 2023 Do not add dolor sit do not add comme to your amount round the answer to the whole number) 1.Caso Nec Count) de 12
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