At that date, the fair value of the non-controlling interest was $43,800. DR CR Consolidated Income Statement Sales Less: COGS Less: Wage Expense Less: Depreciation Expense Less: Interest Expense Less: Other Expenses Income from Subsidiary Net Income Statement of Retained Earnings Beginning Balance Net Income Less: Dividends Declared Ending BalanceДҐ Balance Sheet Cash Accounts Receivable Inventory Land Buildings & Equipment Less: Accumulated Depreciation Investment in Baratheon Co Goodwill Total Assets Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Total Liabilities & EquityД¦ CHAPTER 5: CONSOLIDATION OF LESS-THAN-WHOLLY-OWNED SUBSIDIARIES ACQUIRED AT MORE THAN BOOK VALUE Hartanto Corporation acquired 70 percent of Palupi Corporation s common stock on December 31, 20X4, for $102,200. Goodwill Calculation Original BV 20,500 20,000 (2,000) 2,500 Changes (2,000) (2,000) Ending BV 18,500 20,000 (4,000) 2,500Д¤ ELIMINATING ENTRIES Basic Elimination Entry: C/S 60,000 R/E 48,000 Income from Subs 36,000 Dividend Declared 20,000 Investment in Baratheon 124,000 Amortized excess value reclassification entry: Depreciation Exp 2,000 Income from Subs 2,000 Excess value (differential) reclassification entry: Building & Equipment 20,000 Goodwill 2,500 Acc Depr 4,000 Investment in Baratheon 18,500 b) Targaryen Baratheon Elimination Entries Corp. Stock 20,000 Record amortization of excess acquisition price: Income from Subsidiary 2,000 Investment in Baratheon Co. s 20X9 dividend: Cash 20,000 Investment in Baratheon Co. Stock 36,000 Cash 36,000 Record Targaryen Corp. s 20X9 income: Investment in Baratheon Co. Prepare a three-part consolidation worksheet for 20X9 in a good form.ДЈ JAWABAN: a) Record Targaryen Corp. Give all eliminating entries needed to prepare a three-part consolidation worksheet as of December 31, 20X9. on December 31, 20X9, are as follows: Item Targaryen Corporation Baratheon Company Debit Credit Debit Credit Cash 45,500 32,000 Accounts Receivable 85,000 14,000 Inventory 97,000 24,000 Land 50,000 25,000 Buildings and Equipment 350, ,000 Investment in Baratheon Co. No additional impairment occured in 20X9.

shares has impaired and the correct carrying value was $2,500. concluded on December 31, 20X8 that goodwill involved in its acquisition of Baratheon Co. Although goodwill is not amortized, the management of Targaryen Corp. Buildings and equipment are depreciated on a 10-year basis.

s building and equipment was $20,000 more than book value. At that date, the fair value of Baratheon Co.

2 CHAPTER 4: CONSOLIDATION OF WHOLLY-OWNED SUBSIDIARIES ACQUIRED AT MORE THAN BOOK VALUE Targaryen Corporation acquired 100 percent ownership of Baratheon Company on January 1, 20X8, for $128,000.

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