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Pool Industries Paid $540,000 to Purchase 75% of the Outstanding

Question 31

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Pool Industries paid $540,000 to purchase 75% of the outstanding stock of Swimmin Corporation,on December 31,2014.Any excess fair value over the identified assets and liabilities is attributed to goodwill.The following year-end information was available just before the purchase: Pool Industries paid $540,000 to purchase 75% of the outstanding stock of Swimmin Corporation,on December 31,2014.Any excess fair value over the identified assets and liabilities is attributed to goodwill.The following year-end information was available just before the purchase: Required: 1.Prepare Pool's consolidated balance sheet on December 31,2014.
Required:
1.Prepare Pool's consolidated balance sheet on December 31,2014.

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