Exercise $9-12($Algo$)$ Subsidiary Stock Dividend LO $9-5$

Stake Company reported the following summarized balance sheet data as of December $31,202$ :

Stake issues $4,400$ additional shares of its $$10$ par value stock to its shareholders as a stock dividend on April $20,203.$

The market price of Stake's shares at the time of the stock dividend is $$55.$ Stake reports net income of $$33,000$ and

pays a $$12,500$ cash dividend in $203.$ Pole Company acquired $70$ percent of Stake's common shares at book value on

January $1,20$X$1.$ At that date, the fair value of the noncontrolling interest was equal to $30$ percent of Stake's book value.

Pole uses the equity method in accounting for its investment in Stake.

Required:

a$.$ Prepare the journal entries recorded by Stake and Pole at the time the stock dividend is declared and distributed.

b$.$ Prepare the worksheet consolidation entries needed to prepare consolidated financial statements for $203.$

c$.$ Prepare the worksheet consolidation entry needed to prepare a consolidated balance sheet on January $1,20$x$4.$

Complete this question by entering your answers in the tabs below.

Prepare the journal entries recorded by Stake and Pole at the time the stock dividend is declared and distributed.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Record the issuance of a stock dividend by Stake

Company,

Record the issuance of a stock dividend by Stake

Company in the books of Pole.

Complete this question by entering your answers in the tabs below.

Required B

Prepare the worksheet consolidation entries needed to prepare consolidated financial statements for $203.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Complete this question by entering your answers in the tabs below.

Prepare the worksheet consolidation entry needed to prepare a consolidated balance sheet on January

there are $6$ journal entry required, please try and explain with the most details how to complete it$!$