Windsor Corporation acquired 90 percent of Agro Corporation's common shares on January 1,20X6,at underlying book value.At that date,the fair value of the noncontrolling interest was equal to 10 percent of the book value of Agro.Agro Corporation prepared the following balance sheet as of January 1,20X9:
The company is considering a 3-for-1 stock split,a stock dividend of 7,000 shares,or a stock dividend of 2,000 shares on its $5 par value common stock.The current market price per share of Agro stock on January 1,20X9,is $15.
Required:
Give the investment elimination entry required to prepare a consolidated balance sheet at the close of business on January 1,20X9,for each of the alternative transactions under consideration by Agro Corporation.

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The Answer of Windsor Corporation acquired 90 percent of Agro Corporation's common shares on January 1,20X6,at underlying book value.At that date,the fair value of the noncontrolling interest was equal to 10 percent of the book value of Agro.Agro Corporation prepared the following balance sheet as of January 1,20X9:
The company is considering a 3-for-1 stock split,a stock dividend of 7,000 shares,or a stock dividend of 2,000 shares on its $5 par value common stock.The current market price per share of Agro stock on January 1,20X9,is $15.
Required:
Give the investment elimination entry required to prepare a consolidated balance sheet at the close of business on January 1,20X9,for each of the alternative transactions under consideration by Agro Corporation.

Windsor Corporation Acquired 90 Percent of Agro Corporation's Common Shares