9) Morgan Company acquires all of the outstanding shares of Jennings, Inc., for cash. Morgan transfers consideration more than the fair value of the companys net assets. How should the payment in excess of fair value be accounted for in the consolidation process?

10) Catron Corporation is having liquidity problems, and as a result, it sells all of its outstanding stock to Lambert, Inc., for cash. Because of Catrons problems, Lambert is able to acquire this stock at less than the fair value of the companys net assets. How is this reduction in price accounted for within the consolidation process?

11) What accounting treatments are appropriate for investments in equity securities without readily determinable fair values?

12) The Advantages of Business Combinations. Explain.