Adams corporation acquired 90 percent of the outstanding voting shares of barstow, inc., on december 31, 2016. 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, 2016, barstow had the following account balances:

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.

Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of