1. What is the control premium paid by Carson to aquire 80 percent of voting shares of Gardena?

2. What is the goodwill of Gardena at acquisition?

3.What is the amount of Non-Controlling Interest at acquisition (1/1/2020)?

6.What is the consolidated balance for investment at December 31, 2020?

7. What is the consolidated balance for equiy in income of Gardena at December 31, 2020?

8. What is the consolidated balance for dividend declared at December 31, 2020?

9. What is the net income attributable to noncontrolling interests of Gardena at December 31, 2020?

10. What is the net income attributable to controlling interests of Gardena at December 31, 2020?

11. What is the amount of Non-Controlling Interest at December 31, 2020?

12. What is the consolidated balance for additional paid in capital at December 31, 2020?

13. What is the consolidated balance for common stock at December 31, 2020?

14. Suppose Carson used the initial value method to record its investment in Gardena in 2020.

The working paper entry to eliminate the difference in accounting methods between equity method and the initial value method in 2021? (Consolidated Journal Entry *C)

15. Suppose Carson used the partial equity method to record its investment in Gardena in 2020.

The working paper entry to eliminate the difference in accounting methods between equity method and the partial equity method in 2021? (Consolidated Journal Entry *C)

Carson, Inc., acquires 80 percent of the outstanding common stock of Gardena corporation on January 1, 2020, in exchange for $900,000 cash. At the acquisition date, Gardena's total fair value, including the noncontrolling interest, was assessed at $1, 125,000. Also at the acquisition date, Gardena's book value was $690,000. Several individual items on Gardena's financial records had fair values that differed from their book values as follows: Book value Fair value Trademark (indefinite life) $360,000 $383,000 Property and equipment (net, 8-year remaining useful life) 290,000 330,000 Patent (14-year remaining useful life) 132,000 272,000 For internal reporting purposes, Carson, inc., employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2020, for both companies. At year-end, there were no intra-entity receivables or payables. Carson Gardena Revenues ($1,400,000) ($825,000) Cost of goods sold 774,000 395,750 Depreciation expense 328,000 36,250 Amortization expense 28,000 Equity in income of Gardena ($280,000) Net income ($578,000) ($365,000) Retained earnings (1/1/2020) ($1,275,000) ($530,000) Net income ($578,000) ($365,000) Dividends declared 300,000 50,000 Retained earnings (12/31/2020) ($1,553,000) ($845,000) Current assets $860,000 $432,250 Investment in Gardena 1,140,000 0 Trademark 240,000 360,000 Property and equipment (net) 1,030,000 253,750 Patents o 104,000 Total assets 3,270,000 1,150,000 Accounts payable ($142,000) ($145,000)($578,000) ($365,000) Net income Dividends declared 300 000 (51,553,000) 50 000 ($845,000) Retained earnings (12/31/2020) Current assets 5860.000 5432.250 Investment in Gardena Trademark 1 , 1 40,000 2 40.000 0 3 60.000 Property and equipment (net) 1,030,000 253,750 Patents 0 104,000 Total assets Accounts payable Common stock 3,270,000 1,150,000 ($142,000) ($145,000) ($300,000) ($120,000) Additional paid-in capital Retained earnings (12/31/2020) ($1,275,000) ($1,553,000) ($40,000) ($845,000) Total liabilities and equities (5 3,270,000) (S 1,150,000)