My writer delivered an awesome dissertation on the Creek War, I definitely didn’t have the time to do all the research she did on my own.
Essay (any type)
09/08/2022
Date of Acquisition Consolidation Eliminating Entries Pennant Corporation acquired 80 percent of Say
Date of Acquisition Consolidation Eliminating
Entries
Pennant Corporation acquired 80 percent of Saylor Company's
common stock for $10,000,000 in cash on January 2, 2013. At that
date, Saylor's $6,000,000 of reported net assets were fairly
stated, except land was undervalued by $500,000 and unrecorded
developed technology was valued at $1,000,000. The estimated fair
value of the noncontrolling interest is $2,000,000 at the
acquisition date.
(a) Calculate total goodwill and its allocation to the controlling
and noncontrolling interests.
Enter answers using all zeros (do not abbreviate to in thousands
or in millions).
Allocation of goodwill between controlling and
noncontrolling interest:
Total goodwill
Answer
Pennant's goodwill
Answer
Goodwill to noncontrolling interest
Answer
(b) Prepare the working paper eliminating entries needed to
consolidate Pennant and Saylor on January 2, 2013.
Enter answers using all zeros (do not abbreviate to in thousands
or in millions).
*Drop down choices include:
(E)
Cash
Shareholder's Equity – Saylor
Investment in Saylor
(R)
Land
Cash
Investment in Saylor
please show work. thank you!!!!!
Consolidationjournal Description Debit Credit Noncontrolling interest in Saylor (R) Developed technology Goodwill Noncontrolling interest in Saylor
