On January 2, 2014, Power Incorporated Paid $630,000 for a 90

question 29

Essay

On January 2, 2014, Power Incorporated paid $630,000 for a 90% interest in Smallsen Company. Smallsen's equity at that time amounted to $600,000, and their book values for assets and liabilities recorded approximated their fair values. Smallsen did not issue any additional stock in 2014. At December 31, 2014, the two companies' balance sheets are summarized as follows:
Required: Complete the consolidation worksheet for Power Incorporated and Subsidiary at December 31, 2014.

---

Definitions:

Conflict Theorists

Scholars and sociologists who emphasize the role of power disparities and social conflict in understanding social dynamics and inequalities.

Socializing Function

The process by which individuals learn the norms, values, behaviors, and social skills appropriate to their society.

Mass Media

Various forms of communication technologies and platforms, such as television, radio, newspapers, and the internet, that reach a large audience simultaneously.

Press Releases

Official statements issued to newspapers giving information on a particular matter.