Question: Use the data from Exercise 8-1, but assume use of either the complete or the partial equity method rather than the cost method. Required: A.

Use the data from Exercise 8-1, but assume use of either the complete or the partial equity method rather than the cost method.


Required:

A. Prepare the journal entries Peck Company will make on its books during 2010 and 2011 to account for its investment in Sanno Company.

B. Prepare workpaper eliminating entries necessary to prepare a consolidated statements workpaper on December 31, 2011.


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