An acquisition takes place on January 1,2015. At December 31, 2015, you observe the following consolidation eliminating entries:

Property and equipment and identifiable intangibles revaluations are written off on a straight-line basis, no residual value. Additional goodwill impairment losses of \($400,000\) are reported in 2018. Except for the inventories, none of the revalued assets are sold in future years.

Required 

Prepare consolidation eliminating entries (R) and (O) on

a. December 31,2017.

b. December 31, 2020.

c. December 31, 2025.

Transcribed Image Text:

(R) Identifiable intangibles. Land..... Goodwill... Inventories. Property and equipment, net.. Investment in Samson Company (0) Amortization expense. Impairment loss.... Inventories. Property and equipment, net. Cost of goods sold Depreciation expense. Identifiable intangibles. Goodwill..... 3,000,000 2,000,000 15,000,000 500,000 10,000,000 9,500,000 600,000 200,000 500,000 1,000,000 500,000 1,000,000 600,000 200,000