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The following data pertains to Questions
Jean and John Inc had the following balance sheets on August 31,2007: The following data pertains to Questions  Jean and John Inc had the following balance sheets on August 31,2007:   On August 31<sup>,</sup>2007,Jean's date of acquisition,Jean Inc.purchased 90% of John Inc for $400,000. -Prepare Jean Inc's consolidated Balance Sheet on the date of acquisition using the Entity Theory. On August 31,2007,Jean's date of acquisition,Jean Inc.purchased 90% of John Inc for $400,000.
-Prepare Jean Inc's consolidated Balance Sheet on the date of acquisition using the Entity Theory.

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