Adams Corporation acquired 90 percent of the outstanding voting shares of Barstow, Inc., on
December 31, 2019. Adams paid a total of $603,000 in cash for these shares. The 10 percent
noncontrolling interest shares traded on a daily basis at fair value of $67,000 both before and after
Adams's acquisition. On December 31, 2019, Barstow had the following account balances:
December 31, 2021, adjusted trial balances for the two companies follow:At yeat-end, there were
no intra-entity receivables or payables. a. Prepare schedules for acquisition-date fair-value
allocations and amortizations for Adams's investment in Barstow. b. Determine Adams's method of
accounting for its investment in Barstow. c. &. Prepare a consolidation worksheet for Adams
Corporation and Barstow, Inc, as of December 31,2021. Answer is not complete. Complete this
question by entering your answers in the tabs below. ced. Prepare o consoliantion worksheet for
Adams Corporation and Barstow, Inc, as of December 31,2021 . (For accounts where mutipic
consolidation entries are required, combine all debit entries into one amount and enter this amount
in the debit column of the werksheot. 5lisilarly. combine ali cedit entries into ene amount and enter
this amount in the credit column of the worksheet. Input all amounts as positive values)c8dd.
Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., as of December 31,
2021. {For accounts where muatipie consolidation entries are required, combine all debit entries
into one amount and enter this afmount in the debir column of the workshegt. Sinilarfy. combine all
credit entries into one amount and enter this amount in the credit column of the worksheet. Input
all amounts as fositive katises.)At year-end, there were no intra-entity receivables or payables. a.
Prepare schedules for acquisition-date fair-value allocations and amortizations for Adams's
investment in Barstow. b. Determine Adams's method of accounting for its investment in Barstow.
c.8d. Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., as of
December 31, 2021. Answer is not complete. Complete this question by entering your answers in
the tabs below. a. Prepare schedules for acquisition-date fair-value allocations and amortizations
for Adams's investment in Barstow. b. Determine Adams's method of accounting for its investment
in Barstow..
Adams Corporation acquired 90 percent of the outstanding vot.pdf
1. Adams Corporation acquired 90 percent of the outstanding voting shares of Barstow, Inc., on
December 31, 2019. Adams paid a total of $603,000 in cash for these shares. The 10 percent
noncontrolling interest shares traded on a daily basis at fair value of $67,000 both before and after
Adams's acquisition. On December 31, 2019, Barstow had the following account balances:
December 31, 2021, adjusted trial balances for the two companies follow:At yeat-end, there were
no intra-entity receivables or payables. a. Prepare schedules for acquisition-date fair-value
allocations and amortizations for Adams's investment in Barstow. b. Determine Adams's method of
accounting for its investment in Barstow. c. &. Prepare a consolidation worksheet for Adams
Corporation and Barstow, Inc, as of December 31,2021. Answer is not complete. Complete this
question by entering your answers in the tabs below. ced. Prepare o consoliantion worksheet for
Adams Corporation and Barstow, Inc, as of December 31,2021 . (For accounts where mutipic
consolidation entries are required, combine all debit entries into one amount and enter this amount
in the debit column of the werksheot. 5lisilarly. combine ali cedit entries into ene amount and enter
this amount in the credit column of the worksheet. Input all amounts as positive values)c8dd.
Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., as of December 31,
2021. {For accounts where muatipie consolidation entries are required, combine all debit entries
into one amount and enter this afmount in the debir column of the workshegt. Sinilarfy. combine all
credit entries into one amount and enter this amount in the credit column of the worksheet. Input
all amounts as fositive katises.)At year-end, there were no intra-entity receivables or payables. a.
Prepare schedules for acquisition-date fair-value allocations and amortizations for Adams's
investment in Barstow. b. Determine Adams's method of accounting for its investment in Barstow.
c.8d. Prepare a consolidation worksheet for Adams Corporation and Barstow, Inc., as of
December 31, 2021. Answer is not complete. Complete this question by entering your answers in
the tabs below. a. Prepare schedules for acquisition-date fair-value allocations and amortizations
for Adams's investment in Barstow. b. Determine Adams's method of accounting for its investment
in Barstow.
