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Prepare consolidation workpapers for pan corporation

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Reference no: EM13552811

Pan Corporation acquired a 75 percent interest in Saf Corporation on January 1, 2011. Financial statements of Pan and Saf Corporations for the year 2011 are as follows (in thousands):

1438_Prepare consolidation workpapers for Pan Corporation.PNG

REQUIRED:

Prepare consolidation workpapers for Pan Corporation and Subsidiary for the year ended December 31, 2011. Only the information provided in the financial statements is available; accordingly, your solution will require some standard assumptions. Saf owned unrecorded patents having a fair value of $112,000, and a useful life of 10years.

Reference no: EM13552811

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