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1. Beta Corporation acquired 100 percent of the voting shares of Yang Inc. by issuing...

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Accounting

1. Beta Corporation acquired 100 percent of the voting shares of Yang Inc. by issuing 10,000 new shares of $10 par value common stock with a $40 market value. Required: 1) Which company is the parent and which is the subsidiary? 2) Define a subsidiary corporation. 3) Define a parent corporation. 4) Which entity prepares consolidated worksheet? 5) Why are elimination entries used

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