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What is the balance in the investment in sub co account

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2018 115,000 64,600

2019 144,400 71,600

2020 164,000 94,000

On December 31, 2020, the Parent owed $20,800 to Sub Inc. There have been no changes in Sub's common stock account since the acquisition.

Question 1: Prepare the allocation of the acquisition on January 1, 2018. In your presentation, but sure to show the excess fair value over cost allocated to the identifiable assets, and any resulting goodwill. In addition, for the identifiable assets, be sure to calculate the annual amortization of excess fair value over book value.

Question 2: At the end of 2020, after recording all the necessary journal entries, what is the balance in the Investment in Sub Co. account?

Reference no: EM132697670

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