Business, 20.09.2020 14:01 chavez0

On the date of acquisition, Aaron reported retained earnings of $360,000 and a total book value of $490,000. At that time, its royalty agreements were undervalued by $60,000. This intangible was assumed to have a six-year remaining life with no residual value. Additionally, Aaron owned a trademark with a fair value of $50,000 and a 10-year remaining life that was not reflected on its books. Aaron declared and paid dividends in the same period. Using the preceding information, prepare a consolidation worksheet for these two companies as of December 31, 2021. Assuming that Michael applied the equity method to this investment, what would the following account balances be on the parent's individual financial statements

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On the date of acquisition, Aaron reported retained earnings of $360,000 and a total book value of $...

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