1 Not complete Marked out of 1.25 Flag question Eliminating Entries with Previously Unreported Intangibles ProLock acquired all of the stock of Senyo for $15,000,000. At the date of acquisition, Senya's $8,000,000 of reported net assets were fairly stated, except land was overvalued by $500,000 and unrecorded in-process R&D was valued at $1,500,000. Senyo's equity accounts were as follows: Capital stock $7,000,000 Retained deficit 500,000) Accumulated other comprehensive income 1,800,000 Treasury stock Total (300,000) $8,000,000 Required Prepare the working paper eliminating entries needed to consolidate ProLock and Senyo at the date of acquisition Enter numerical answers using all zeros (do not abbreviate to thousands or millions). Debit Credit Required Prepare the working paper eliminating entries needed to consolidate ProLock and Senyo at the date of acquisition. Enter numerical answers using all zeros (do not abbreviate to thousands or millions). Ref. Description (E) Capital stock Treasury stock Investment in Senyo (R) In-process R&D Check Investment in Senyo DO Debit Credit Required Prepare the working paper eliminating entries needed to consolidate ProLock and Senyo at the date of acquisition. Enter numerical answers using all zeros (do not abbreviate to thousands or millions). Ref. Description (E) Capital stock AOCI (R) Cash Goodwill Land Retained deficit Ch Debit Credit