On December 31, Year 1, P Company purchased 80% of outstanding shares of S Company...
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Accounting
On December Year P Company purchased of outstanding shares of S Company for $ cash with these statements provided immediately after acquisition transaction. Prepare a consolidated statement of financial position at the date of acquisition under the identifiable net asset INA method often times referred to as the Parent Company Extension Theory Prepare a consolidated statement of financial position at the date of acquisition under the fair value enterprise FVE method often times referred to as the Entity Theory NOTE: In both cases make sure you prepare a schedule to calculate the acquisition differential, including the calculation of goodwill and at acquisition. 
On December Year P Company purchased of outstanding shares of S Company for $ cash with these statements provided immediately after acquisition transaction.
Prepare a consolidated statement of financial position at the date of acquisition under the identifiable net asset INA method often times referred to as the Parent Company Extension Theory
Prepare a consolidated statement of financial position at the date of acquisition under the fair value enterprise FVE method often times referred to as the Entity Theory
NOTE: In both cases make sure you prepare a schedule to calculate the acquisition differential, including the calculation of goodwill and at acquisition.
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