On January 1, 2011, Lennon Corporation acquires 100% of Ono Inc. for $220,000 in cash. The condensed
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Instructions
Prepare a worksheet for a consolidated balancesheet.
Transcribed Image Text:
Lennon Corporation 60,000 220,000 300,000 $580,000 Ono Inc S 50,000 Current assets Investment in Ono Inc. common stock Plant and equipment (net) 220,000 $270,000 50,000 Current liabilities Common stock Retained earnings $180,000 230,000 170,000 $580,000 80,000 140,000 $270,000
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Related Book For
Financial Accounting
ISBN: 978-0470507018
7th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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