1. When the value implied by the purchase price of a subsidiary is in excess of the fair value of identifiable net assets, the workpaper entry to allocate the difference between implied and book value includes a: A) debit to Difference Between Implied and Book Value. B) credit to Excess of Implied over Fair Value. C) credit to Difference Between Implied and Book Value. D) debit to Difference Between Implied and Book Value and credit to Excess of Implied over Fair Value. 2. Pinta Company acquired an 80% interest in Strummer Company on January 1, 2016, for $270,000 cash when Strummer Company had common stock of $150,000 and retained earnings of $150,000. All excess was attributable to plant assets with a 10-year life. Strummer Company made $30,000 in 2016 and paid no dividends. Pinta Company's separate income in 2016 was $375,000. Controlling interest in consolidated net income for 2016 is: A) $405,000. B) $399,000. C) $396,000. D) $375,000.