Park Corporation paid $180,000 for a 75% interest in Stem Co.'s outstanding Capital Stock on January 1, 2011, when Stem's stockholders' equity consisted of $150,000 of Capital Stock and $50,000 of Retained Earnings.Book values of Stem's net assets were equal to their fair values on this date.The adjusted trial balances of Park and Stem on December 31, 2011 were as follows:
Required: Complete the partially prepared consolidated balance sheet working papers that appear below.

Question

Park Corporation paid $180,000 for a 75% interest in Stem Co.'s outstanding Capital Stock on January 1, 2011, when Stem's stockholders' equity consisted of $150,000 of Capital Stock and $50,000 of Retained Earnings.Book values of Stem's net assets were equal to their fair values on this date.The adjusted trial balances of Park and Stem on December 31, 2011 were as follows:
  Required: Complete the partially prepared consolidated balance sheet working papers that appear below.

Quizplus · Accepted Answer

The Answer of Park Corporation paid $180,000 for a 75% interest in Stem Co.'s outstanding Capital Stock on January 1, 2011, when Stem's stockholders' equity consisted of $150,000 of Capital Stock and $50,000 of Retained Earnings.Book values of Stem's net assets were equal to their fair values on this date.The adjusted trial balances of Park and Stem on December 31, 2011 were as follows:
  Required: Complete the partially prepared consolidated balance sheet working papers that appear below.

Park Corporation Paid $180,000 for a 75% Interest in Stem