Question: ). Give all consolidating entries needed to prepare a full set of consolidated financial statements for 20X5 A. Basic Consolidation Entry B. Amortized excess value

). Give all consolidating entries needed to prepare a full set of consolidated financial statements for 20X5 A. Basic Consolidation Entry B. Amortized

). Give all consolidating entries needed to prepare a full set of consolidated financial statements for 20X5

A. Basic Consolidation Entry

B. Amortized excess value reclassification entry

C. Excess value ( differential) relcassification entry

D. Eliminate intercompany accounts

1. Pizza Corporation acquired 100 percent of Slice Company on January 1, 20X5, for $350,000. Following are selected account balances from Pizza and Slice Corporation as of December 31, 20X5: (13 points) Additional Information: 1. On January 1,20X5 the fair market value of Slice's assets equaled their book value with. the exception of Plant Assets (with an estimated economic life of 6 years) which had a fair market value in excess in Slice's depreciable assets of $33,000. 2. Pizza used the equity method in accounting for its investment in Slice. 3. Detailed analysis of receivables and payables showed that Slice owed Pizza $10,000 on December 31,205

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