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  3. 10.3. haloute co. spends $18 million in cash to pu

10.3. Haloute Co. spends $18 million in cash to purchase 30% of the outstanding voting...

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Accounting

10.3. Haloute Co. spends $18 million in cash to purchase 30% of the outstanding voting stock of Sidner Co. a. Provide Haloute's entry to record the purchase. b. During the year following Haloute's investment, Sidner reports $1 million in Net Income and pays $500,000 in dividends. Provide Haloute's entries (if any) to account for these events. c. The fair values of Sidner's assets total $100 million, and the fair values of Sidner's liabilities total $50 million. The amount of Sidner's goodwill (if any) that Haloute has purchased is ...what? [ck: 3M.]
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