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Company P Industries Purchased a 70% Interest in Company S

Question 17

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Company P Industries purchased a 70% interest in Company S on January 1, 2016, and prepared the following determination and distribution of excess schedule:
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Company P Industries purchased a 70% interest in Company S on January 1, 2016, and prepared the following determination and distribution of excess schedule: ​ ​ Since the purchase, there have been the following intercompany transactions: ​ ​ Required: ​ Complete the following schedule to adjust the retained earnings of the non-controlling and controlling interest on the December 31, 2020, worksheet for a consolidated balance sheet only.Company P uses the simple equity method to account for its investment. ​ Since the purchase, there have been the following intercompany transactions:
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Company P Industries purchased a 70% interest in Company S on January 1, 2016, and prepared the following determination and distribution of excess schedule: ​ ​ Since the purchase, there have been the following intercompany transactions: ​ ​ Required: ​ Complete the following schedule to adjust the retained earnings of the non-controlling and controlling interest on the December 31, 2020, worksheet for a consolidated balance sheet only.Company P uses the simple equity method to account for its investment. ​ Required:
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Complete the following schedule to adjust the retained earnings of the non-controlling and controlling interest on the December 31, 2020, worksheet for a consolidated balance sheet only.Company P uses the simple equity method to account for its investment.
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Company P Industries purchased a 70% interest in Company S on January 1, 2016, and prepared the following determination and distribution of excess schedule: ​ ​ Since the purchase, there have been the following intercompany transactions: ​ ​ Required: ​ Complete the following schedule to adjust the retained earnings of the non-controlling and controlling interest on the December 31, 2020, worksheet for a consolidated balance sheet only.Company P uses the simple equity method to account for its investment. ​

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