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will rate after checking work thanks Ple Corporation acquired 75 percent of Slice Company's ownership on January 1, 20X8, for $96.000 At that date, the

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will rate after checking work thanks

Ple Corporation acquired 75 percent of Slice Company's ownership on January 1, 20X8, for $96.000 At that date, the fair value of the noncontrolling Interest was $32,000. The book value of Slice's net assets at acquisition was $95.000. The book values and fair values of Slice's assets and liabilities were equal, except for Slice's buildings and equipment, which were worth $19.000 more than book value. Accumulated depreciation on the buildings and equipment was $27,000 on the acquisition date. Bulldings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, the management of Ple concluded at December 31, 20X8, that goodwill from its purchase of Slice shares had been Impaired and the correct carrying amount was $3,300. Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders. Trial balance data for Ple and Slice on December 31, 20X8. are as follows: Slice Company Debit Credit $ 26,000 17,000 30,000 20,000 166,000 Item Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in Slice Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from Slice Company Pie Corporation Debit Credit $ 50,500 74,000 94,000 46,000 370,000 112,650 115,000 38,000 20,000 7,000 8,500 30,000 $129,000 32,000 11,000 229,690 186,000 88,000 262,000 28,050 $965,650 $965,650 100,000 20,000 9,000 3,000 4,000 15, 208 $ 36,080 10,000 6,000 77, 200 66,000 29,000 186, 000 $410, 200 $410, 200 Required: a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry is required for a transaction/event, select "No Journal entry requlred" In the first account field.) UU. a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry Is required for a transactlon/event, select "No Journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries Record the basic consolidation entry. Note: Enter debits before credits. Entry Accounts Debit credit 1 Record entry Clear entry view consolidation entries Required: a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry Is required for a transaction/event, select "No Journal entry requlred" in the first account field.) View transaction list Consolidation Worksheet Entries

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