This is a continuation of Problem 8 12 Trial balances for
This is a continuation of Problem 8-12. Trial balances for Phan Company and its subsidiary Sato Company on December 31, 2011, are as follows:


Phan Company acquired its investment in Sato Company through open-market purchases of
stock as follows:



Required:
Refer to Problem 8-12. Prepare the consolidated financial statement workpaper for Phan
Company and its subsidiary Sato Company on December 31, 2011. Use the costmethod.
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