(Module 2) In 2007, Puncor resold for $77,000 inventory that it had acquired from Suncor (an 80%-owned subsidiary) in 2006 for $55,000. Suncor's cost was $44,000.
Required:
Prepare the consolidation entry or entries required at 12/31/07 under the partial equity method.

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The Answer of (Module 2) In 2007, Puncor resold for $77,000 inventory that it had acquired from Suncor (an 80%-owned subsidiary) in 2006 for $55,000. Suncor's cost was $44,000.
Required:
Prepare the consolidation entry or entries required at 12/31/07 under the partial equity method.

(Module 2) in 2007, Puncor Resold for $77,000 Inventory That