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 shares of Schroeder Corporation on January X at book value. At that date, the fair value of the noncontrolling interest was equal to percent of Schroeder's book value. On December X Schroeder reported these balance sheet amounts. On January X Schroeder issued an additional shares of its $ par value common stock to Nonaffiliated Company for $ per share.
A Compute the change in book value of the shares held by Pro as a result of Schroeders issuance of additional shares. Note: Do not round the percentage of stock held.
C Record the consolidation entry needed to prepare a consolidated balance sheet immediately after Schroeders issuance of additional shares.
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