Adams Corporation acquired 90 percent of the outstanding voting shares of Barstow, Inc., on December...
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Adams Corporation acquired 90 percent of the outstanding voting shares of Barstow, Inc., on December 31,2019 . Adams paid a total of $603,000 in cash for these shares. The 10 percent noncontrolling interest shares traded on a daily basis at fair value of $67,000 both before and after Adams's acquisition. On December 31, 2019, Barstow had the following account balances: December 31, 2021, adjusted trial balances for the two companies follow: At year-end, there were no intra-entity receivables or payables. a. Prepare schedules for acquisition-date fair-value allocations and amortizations for Adams's investment in Barstow. b. Determine Adams's method of accounting for its investment in Barstow. c.\&d. Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., as of December 31, 2021. c\&d. Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., as of December 31,2021 . (For accounts where multiple consolidation combine all credit Adams Corporation acquired 90 percent of the outstanding voting shares of Barstow, Inc., on December 31,2019 . Adams paid a total of $603,000 in cash for these shares. The 10 percent noncontrolling interest shares traded on a daily basis at fair value of $67,000 both before and after Adams's acquisition. On December 31, 2019, Barstow had the following account balances: December 31, 2021, adjusted trial balances for the two companies follow: At year-end, there were no intra-entity receivables or payables. a. Prepare schedules for acquisition-date fair-value allocations and amortizations for Adams's investment in Barstow. b. Determine Adams's method of accounting for its investment in Barstow. c.\&d. Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., as of December 31, 2021. c\&d. Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., as of December 31,2021 . (For accounts where multiple consolidation combine all credit
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