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(Solution) - Assume Abbey Inc paid 479 000 to acquire all the common

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Assume Abbey, Inc., paid $479,000 to acquire all the common stock of Bookstore Corporation, and Bookstore owes Abbey $164,000 on a note payable. Immediately after the purchase on September 30, 2012, the two companies? balance sheets follow.

Prepare the worksheet for the consolidated balance sheet of Abbey, Inc. Use Exhibit 8-7 as amodel.


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This question was answered on: Jul 11, 2017

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