Prepare Journal Entry Assuming Minneapolis Manufacturing Inc Decided Purchase Bloomington Q29650822

Prepare the journal entry assuming MinneapolisManufacturing Inc. decided to purchase Bloomington Re-Bar Companyfor $13,000,000 in an Asset Acquisition.

Prepare the journal entry assuming MinneapolisManufacturing Inc. decided to purchase 100% ofBloomington Re-Bar Company for $13,000,000 in a StockAcquisition.

Prepare the journal entry assuming MinneapolisManufacturing Inc. decided to purchase 75% ofBloomington Re-Bar Company for $9,000,000 in a StockAcquisition.

For scenario C. (75% Stock Acquisition – above)prepare a CAD. In addition, prepare thenecessary workpaper elimination entriesnecessary to complete a consolidated financial statementworkpaper.

St. Paul Sewer Inc. purchased 70% of PipestonePipe Inc. in a Stock Acquisition.The CEO of St.Paul Sewer Inc. mentioned that there is an accounts receivable duefrom Pipestone Pipe Inc. in the amount of $12,000. Howshould St. Paul Sewer Inc. account for this inter-company(affiliated company) receivable?Provide thejournal entry with your explanation.

Bloomington Re-Bar Company Fal Value 5 450,000 1785,000 3,250,000 5 2,600,000 5 2,200,000 1500,000 5 3,125,000 5 1100,000 Bock Value 5 450,000 1950, 000 3,550, 000 2,500,.000 3,250,000 counts Recelvae vento Buldl ing net] Equipment net 5 110,000 Accounts Payable Mangage Payable 2,850,000 1100,000 5 5,000,000 3,000,000 Patent Environmenta Clean-Up Liability Note to Students- Unless an exerdse or problem explltly states otherwise, always assume cash IsInduded in the acquisitlon assets. Show transcribed image text