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May you assist in explaining how to prepare the elimiating entry by Bodner, Inc. after acquisition as well as what will occur if the goodwill
May you assist in explaining how to prepare the elimiating entry by Bodner, Inc. after acquisition as well as what will occur if the goodwill decreases in value after the acquisition? If on February 1, 2X09, Bodner, Inc. acquired a 100% interest in Bolenski Company by paying $34 million for 100% of the outstanding stock of Bolenski Company. The book value of the net assets amounted to $25 million, but an independent appraiser valued the printing press at $1.5 million over its book value. The book value and fair value of the remaining assets and liabilities were equal.
