On December 31, 20X8, Banner Corporation acquired 80 percent of Dwyer Company's common stock for $136,000. At

Question:

On December 31, 20X8, Banner Corporation acquired 80 percent of Dwyer Company's common stock for $136,000. At the acquisition date, the book values and fair values of all of Dwyer's assets and liabilities were equal. Banner uses the equity method in accounting for its investment. Balance sheet information provided by the companies at December 31, 20X8, immediately following the acquisition is as follows:

Required
Prepare a consolidated balance sheet for Banner at December 31,20X8.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...