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Pro Corporation purchased 12,000 shares of Schroeder Corporation on January 1,20X3, at book value. At...

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Accounting

Pro Corporation purchased 12,000 shares of Schroeder Corporation on January 1,20X3, at book value. At that date, the fair value of the noncontrolling interest was equal to 33.3 percent of Schroeder's book value. On December 31,20X8, Schroeder reported these balance sheet amounts:
Compute the change in book value of the shares held by Pro as a result of Schroeders issuance of additional shares.
Prepare the entry to be recorded on Pros books to recognize the change in book value of the shares it holds, assuming the change in book value is to be treated as an adjustment to additional paid-in capital.
Record the consolidation entry needed to prepare a consolidated balance sheet immediately after Schroeders issuance of additional shares.
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