Question: Ch3 Problem 35 (Exam1 has a similar problem) Name: Allen Company acquired 100% of Bradtond Company's voling stock on 1/1/2020, by issuing 10,000 shares of

Ch3 Problem 35 (Exam1 has a similar problem) Name: Allen Company acquired 100\% of Bradtond Company's voling stock on 1/1/2020, by issuing 10,000 shares of its $10 par value common stock (with a foir value of $14 per share). As of that date, Bradford had stockholders' equity totaling $105.000. Land shown on Bradford's accounting recorda was undervalued by $10,000. Equipment (with a five-year fife) was undervalued by $5,000. A secret formvla doveloped by Bradford was appraised at $20,000 with a life of 20 years. The following are the separate financial statements for the two companles for the year ending Decembor 31, 2024. Allen applied equity method for its equity investments. 1. Do allocation and amortization 2. compute for equily in Subatidiary Eamings. 3. Complete the worksheet by consolidating the financial information for these two companies. Consolidated Worksheet for the year ending 12/31/2024 Accounts Allen Bradford Consol. Dr. Consolidated Totals

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