Purl Inc. Non-Controlling Interest Case Assignment

Purl Inc. Non-Controlling Interest Case Assignment

Question Description

On 12/31/20×1, Purl Inc. acquired Scott Corp. by issuing Common Stock (par value issuance), which was 80% acquisition out of $260,000 (100% total consideration), thereby 20% is Non-Controlling Interest (NCI). When Purl issued the common stock, stock registration, and issuance costs for $1,000 incurred.
Journalize the acquisition process and consolidation adjustments, and construct Purl’s consolidated B/S as of 12/31 by filling out the working sheet.

All the blue parts need to be filled with journal entries. This whole page is about mergers and acquisitions. I’ve filed some of it out but I’m so lost.

 

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