Details The individual financial statements for Ben Company and Jerry Company for the year...
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The individual financial statements for Ben Company and Jerry Company for the year ending December follow. Ben acquired a percent interest in Jerry on January in exchange for various considerations totaling $ At the acquisition date, the fair value of the noncontrolling interest was $ and Jerry's book value was $ Jerry had developed internally a customer list that was not recorded on its books. This intangible asset is being amortized over years.
Ben sold Jerry land with a book value of $ on January for $ Jerry still holds this land at the end of the current year.
Jerry regularly transfers inventory to Ben. Information regarding these transfers is shown below. Ben owes Jerry $ at the end of for such purchases.
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