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On June 10,20X8, Private Corporation acquired 70 percent of Secret Company's common stock. The fair...

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Question

Accounting

On June 10,20X8, Private Corporation acquired 70 percent of Secret Company's common stock. The fair value of the noncontrolling
interest was $21,600 on that date. Summarized balance sheet data for the two companies immediately after the stock purchase are as
follows:
Required:
a. Record the consolidation entries required to prepare a consolidated balance sheet immediately after the purchase of Secret
Company shares.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
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