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6. Matthews Co. acquired all of the common stock of Jackson Co. on January 1, 2010. As of that date, Jackson had the following trial

6. Matthews Co. acquired all of the common stock of Jackson Co. on January 1, 2010. As of that date, Jackson had the following trial balance: Worth 40 Points During 2010, Jackson reported net income of $96,000 while paying dividends of $12,000. During 2011, Jackson reported net income of $132,000 while paying dividends of $36,000. Assume that Matthews Co. acquired the common stock of Jackson Co. for $588,000 in cash. As of January 1, 2010, Jackson's land had a fair value of $102,000, its buildings were valued at $188,000, and its equipment was appraised at $216,000. Any excess of consideration transferred over fair value of assets and liabilities acquired is due to an unamortized patent to be amortized over 10 years. Matthews decided to use the equity method for this investment. Requirements on next page. Please send an excel worksheet to show how the consolidations provide eliminations and adjustments. Required: (A.) Prepare consolidation worksheet entries for December 31, 2010. (B.) Prepare consolidation worksheet entries for December 31, 2011. Note: Make sure to add the investment to the parents trail balance, so you can eliminate the investment in your worksheet. For the sales and dividends, please make sure to show the elimination. I am looking for the eliminations and adjustments for both years, along with any depreciation or amortization

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