The individual financial statements for Abbey Company and Bellstar Company for the year ending December follow. Abbey ocquired a percent interest in Bellstar on January in exchange for vorious considerations totaling $ At the ocquisition date, the fair volue of the noncontrolling interest was $ and Bellstar's book yalue was $ Bellster had "jeveloped internally o trademark that was nat reconded on its books but had on acquisitiondate fair value of $ This intangible osset is being omortized over years. Abbey uses the partial equity method to occount for its investment in Bellstar.
Abbey sold Bellstar land with o book volue of $ on January for $ Bellstar still holds this land at the end of the current year
Bellster regularly iransfers inventory to Abbey. In it shipped inventory costing $ to Abbey at o price of $ During introentity shipments totaled $ olthough the originsl cost to Bellstar wss only $ In esch of these years, percent of the merchandise was not resold to outside parties until the period following the transfer. Abbey owes Bellstar $ ot the end of
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