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Prepare Consolidated Balance Sheet for Big Lake

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Reference no: EM132644128

Question - Prepare Consolidated Balance Sheet for Big Lake Bakeries which owns 100% of Marble Falls Orchards. The fair value of Marble Falls net fixed assets are $2,675,000.

a. Prepare purchase entry.

b. Prepare consolidated journal entry to consolidate equity accounts.

c. Prepare consolidated journal entry to consolidate assets.

Reference no: EM132644128

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