Pluto Company acquires all of the shares of Saturn Company 's stock on January 1, 2013 At December 31, 2012, selected account balances of Saturn follow Common stock, par value $2$ (200,000) Additional paid in capital(1,300,000) Treasury stock100,000 Accumulated other comprehensive income(150,000) R...

In each case Pluto acquires 100000 shares of Saturn 2000002 Entry E Amounts in thou ...

Pluto Company acquires all of the shares of Saturn Company's stock on January 1, 2013. At December

Question:

Pluto Company acquires all of the shares of Saturn Company's stock on January 1, 2013. At December 31, 2012, selected account balances of Saturn follow:
Common stock, $2$ (200,000)
Additional paid-in capital(1,300,000)
Treasury stock100,000
Accumulated other comprehensive income(150,000)
Retained earnings(350,000)
Long-term debt(800,000)
The book values of Saturn's reported assets and liabilities approximate fair value, and it has no unreported net assets that meet the criteria for recognition at acquisition.
Required
Prepare the consolidation working paper entries to consolidate the balance sheets of Pluto and Saturn on January 1, 2013 under each of the following conditions.
a. Pluto acquires all of Saturn's shares in the open market for $25 per share.
b. Pluto acquires all of Saturn's shares in the open market for $19 per share.
c. Pluto acquires all of Saturn's shares in the open market for $16 per share. Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...