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Exercise 5-1 On January 1, 2013, Pam Company purchased an 85% Interest in Shaw Company for $542,200. On this date, Shaw Compa

a)prepare a computation and allocation schedule

b)The entries to eliminate the investment account:

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Pam Company 85% 100% 15% Total NCI Parent Share Share Value Purchase price and implied value 95682 542200 637882 Book value o

Journal Enteries Debit in $ Credit in $ Particulars Trans. Common stock a/c Dr. 403400 Retained earnings a/c 138800 Dr. Diffe

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