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Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng
Edition 11ISBN: 978-0538480284Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng
Edition 11ISBN: 978-0538480284 Exercise 35
Acquisition during the year, elimination entries, income statement. Kraus Company has the following balance sheet on July 1, 2012: 
1. Prepare a determination and distribution of excess schedule for the investment (a value analysis is not needed).
2. Prepare all the eliminations and adjustments that would be made on the December 31, 2012, consolidated worksheet.
3. Prepare the 2012 consolidated income statement and its related income distribution schedules.
1. Prepare a determination and distribution of excess schedule for the investment (a value analysis is not needed).
2. Prepare all the eliminations and adjustments that would be made on the December 31, 2012, consolidated worksheet.
3. Prepare the 2012 consolidated income statement and its related income distribution schedules.
Explanation
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Company N purchases 80% of common stock ...
Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng
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