4. On January 1, 2021. Marshall Company acquired 100 percent of the outstanding common stock of Tucker Company. To acquire these shares, Marshall issued $350,000 in long term liabilities and 20,000 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Marshall paid $31,000 to accountants, lawyers, and brokers for assistance in the acquisition and another $15,500 in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows: 10 points eBook Marshall Company Book Value $ 88,500 325,00 416,800 214, eee 473.ee 242,689 (191, eee) (529, eee) (210, eee) Cash Receivables Inventory Land Buildings (net) Equipment (net) Accounts payable Long-term liabilities Common stock-$1 par value Common stock-$2a par value Additional paid-in capital Retained carnings, 1/1/21 Note: Parentheses indicate a credit balance Tucker Company Book Value $ $ 22,000 162,000 237.000 256.00 284.000 50,700 (55,500) ( (358,eee) Print References (120,000) (492,200 (360.000) (566, See) 18 8 In Marshall's appraisal of Tucker, it deemed three accounts to be undervalued on the subsidiary's books Inventory by $9.900, Land by $20,400, and Buildings by $28,400 Marshall plans to maintain Tucker's separate legal identity and to operate Tucker as a wholly Owned subsidiary a. Determine the amounts that Marshall Company would report in its postacquisition balance sheet in preparing the postacquisition balance sheet, any required adjustments to income accounts from the acquisition should be closed to Marshall's retained earnings. Other accounts will also need to be added or adjusted to reflect the journal entries Marshall prepared in recording the acquisition b. To verify the answers found in part(a), prepare a worksheet to consolidate the balance sheets of these two companies as of January 1, 2021 Complete this question by entering your answers in the tabs below. D. Required Required B To verify the answers found in part (a), prepare a worksheet to consolidate the balance sheets of these two companies as of January 1, 2021. (For accounts where multiple consolidation entries are required, combine all debitantries into one amount Complete this question by entering your answers in the tabs below Required Required Required A Required Determine the amounts that Marshall company would report in its postacquisition balance sheet. In preparing the postacquisition balance sheet, any required adjustments to income accounts from the acquisition should be closed to Marshall's retained earnings. Other accounts will also need to be added or adjusted to reflect the journal entries Marshall prepared in recording the acquisition. (Input all amounts as positive values.) Show less Consolidaten Totals Casin Receivables Inventory Land Buildings (net) Equipment inet Totalt $ Accounts payable Long-term liabilities Common stock Addional paid in capital Retained comings Total liabilities and equites $ To verify the answers found in part(), prepare a worksheer to consolidate the balance sheets of these two companies as of January 1, 2021. (For counts where multiple consolidation entries are required, combine all debitantries into one amount and enter this amount in the debt column of the worksheet. Surly combine all credit entilat one amount and enter this man in the credit column of the work input all amounts as positive values Show less MARSHALL COMPANY AND CONSOLIDATED SUBSIDIARY Workeste January 1, 2021 Account Marshall Tucke Canadian Entries Consolidad Company Company Debit Credit Total Cash Receivais Inventory Lind Building inan Einell Investment in Tuck As payable Long-term Common stock Adin capital Riding 101 Toisade $ 0 $ 05 05 Required) RA 4. On January 1, 2021. Marshall Company acquired 100 percent of the outstanding common stock of Tucker Company. To acquire these shares, Marshall issued $350,000 in long term liabilities and 20,000 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Marshall paid $31,000 to accountants, lawyers, and brokers for assistance in the acquisition and another $15,500 in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows: 10 points eBook Marshall Company Book Value $ 88,500 325,00 416,800 214, eee 473.ee 242,689 (191, eee) (529, eee) (210, eee) Cash Receivables Inventory Land Buildings (net) Equipment (net) Accounts payable Long-term liabilities Common stock-$1 par value Common stock-$2a par value Additional paid-in capital Retained carnings, 1/1/21 Note: Parentheses indicate a credit balance Tucker Company Book Value $ $ 22,000 162,000 237.000 256.00 284.000 50,700 (55,500) ( (358,eee) Print References (120,000) (492,200 (360.000) (566, See) 18 8 In Marshall's appraisal of Tucker, it deemed three accounts to be undervalued on the subsidiary's books Inventory by $9.900, Land by $20,400, and Buildings by $28,400 Marshall plans to maintain Tucker's separate legal identity and to operate Tucker as a wholly Owned subsidiary a. Determine the amounts that Marshall Company would report in its postacquisition balance sheet in preparing the postacquisition balance sheet, any required adjustments to income accounts from the acquisition should be closed to Marshall's retained earnings. Other accounts will also need to be added or adjusted to reflect the journal entries Marshall prepared in recording the acquisition b. To verify the answers found in part(a), prepare a worksheet to consolidate the balance sheets of these two companies as of January 1, 2021 Complete this question by entering your answers in the tabs below. D. Required Required B To verify the answers found in part (a), prepare a worksheet to consolidate the balance sheets of these two companies as of January 1, 2021. (For accounts where multiple consolidation entries are required, combine all debitantries into one amount Complete this question by entering your answers in the tabs below Required Required Required A Required Determine the amounts that Marshall company would report in its postacquisition balance sheet. In preparing the postacquisition balance sheet, any required adjustments to income accounts from the acquisition should be closed to Marshall's retained earnings. Other accounts will also need to be added or adjusted to reflect the journal entries Marshall prepared in recording the acquisition. (Input all amounts as positive values.) Show less Consolidaten Totals Casin Receivables Inventory Land Buildings (net) Equipment inet Totalt $ Accounts payable Long-term liabilities Common stock Addional paid in capital Retained comings Total liabilities and equites $ To verify the answers found in part(), prepare a worksheer to consolidate the balance sheets of these two companies as of January 1, 2021. (For counts where multiple consolidation entries are required, combine all debitantries into one amount and enter this amount in the debt column of the worksheet. Surly combine all credit entilat one amount and enter this man in the credit column of the work input all amounts as positive values Show less MARSHALL COMPANY AND CONSOLIDATED SUBSIDIARY Workeste January 1, 2021 Account Marshall Tucke Canadian Entries Consolidad Company Company Debit Credit Total Cash Receivais Inventory Lind Building inan Einell Investment in Tuck As payable Long-term Common stock Adin capital Riding 101 Toisade $ 0 $ 05 05 Required) RA