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Accounting
Answer A,B and C 
S 270,000 : on 12/31/2xx1 ClassCo buys 25% of StudentCo for : StudentCo. BS Brief Assets 21,70,000 Liabilities S 18,00,000 Equity S 3,70,000 During ClassCo review of StudentCo, it was determined certain assets were either on StudentCo BS below fair value or that the assets were not on BS at all, to wit StudentCo BS value Fair Value Life S 5,00,000 S 5,65,000 PPE Patents Trademarks S S 2,35,000 S 75,000 indefinite 10 During year after acquisition StudentCo had: paid dividends to all shareholders the total of: S 40,000 Recorded net Income of: S 1,04,000 TO do: A Schedule of values attributable to ClassCo investment including in excess of book value [BVI totalling to amount paid for in'estment Based upon fact set above Prepare Journal Entries in year after acquisition including at that YE of StudentCo activities&any Deprec. Or amortization on 12/31/2xx1 B Complete schedule below AND for YE 2xx2 for YE 2xx2
Answer A,B and C
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