Pushdown Accounting (see related P3.14) Assume that GenuineParts uses pushdown accounting at the date of acquisition. Required:
a. Prepare the pushdown accounting entry Genuine Parts makes atthe date of acquisition.
b. Prepare a working paper to consolidate the balance sheets ofInternational Auto and Genuine Parts at the date ofacquisition.
The solution and question to P3.14 can be found herehttps://www.chegg.com/homework-help/questions-and-answers/international-auto-ia-acquires-stock-genuine-parts-gp-reports-acquisition-stock-investment-q34169836