1. Trial balance translation

2. Consolidated worksheet

3. Elimination/adjustments

4. Anything else

Problem 11-3 (LO 3, 5) Translate a trial balance and prepare a consolidation worksheet with excess of cost over book value traceable to equipment. Due to increasing pressures to expand globally, Pueblo Corporation acquired a 100% interest in Soren- son Company, a foreign company, on January 1, 2016. Pucblo paid 12,000,000 FC, and Soren son's equity consisted of the following 3,000,000 FC 2,000,000 4,200,000 9,200,000 FC On the date of acquisition, equipment with a 10-year life was undervalued by 500,000 FC. Any equipment with a 20-year life. remaining excess of cost over book value is attributable to additional The trial balances for Pueblo and Sorenson as of December 31, 2018, are as follows Pueblo Corporation Sorenson Compan 4,050,000 5,270,000 5,540,000 20,969,000 21,000,000 (12,560,000) (3,450,000) 10,000,000) [4,000,000) (6,500,000) (12,180,000) 2,840,000 FC 3,990,000 5,800,000 15,000,000 (6,800,000) (1,580,000) (5,000,000) (3,000,000) (2,000,000) (7,950,000) Paid-In Capital in Excess of Par . . . . . . . . . . . . Retained Earnings, January 1, 2018.. . . Problem 11-3 (LO 3, 5) Translate a trial balance and prepare a consolidation worksheet with excess of cost over book value traceable to equipment. Due to increasing pressures to expand globally, Pueblo Corporation acquired a 100% interest in Soren- son Company, a foreign company, on January 1, 2016. Pucblo paid 12,000,000 FC, and Soren son's equity consisted of the following 3,000,000 FC 2,000,000 4,200,000 9,200,000 FC On the date of acquisition, equipment with a 10-year life was undervalued by 500,000 FC. Any equipment with a 20-year life. remaining excess of cost over book value is attributable to additional The trial balances for Pueblo and Sorenson as of December 31, 2018, are as follows Pueblo Corporation Sorenson Compan 4,050,000 5,270,000 5,540,000 20,969,000 21,000,000 (12,560,000) (3,450,000) 10,000,000) [4,000,000) (6,500,000) (12,180,000) 2,840,000 FC 3,990,000 5,800,000 15,000,000 (6,800,000) (1,580,000) (5,000,000) (3,000,000) (2,000,000) (7,950,000) Paid-In Capital in Excess of Par . . . . . . . . . . . . Retained Earnings, January 1, 2018