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Consolidated
Powder Company spent $240,000 to acquire all of Sawmill Corporation’s stock on January 1,20X2. The balance sheets of the two companies on December 31, 20X3, showed the following amounts:
Sawmill reported
Required
a. Give the appropriate consolidation entry or entries needed to prepare a consolidated balancesheet as of December 31, 20X3.
b. Prepare a consolidated balance sheet worksheet as of December 31, 20X3.
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EBK ADVANCED FINANCIAL ACCOUNTING
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