a. Prepare a value analysis and a determination and distribution of excess schedule for Lockheed's investment in TCG, including a depreciation/amortization schedule. If necessary, prepare a goodwill allocation schedule.

b. Prepare consolidation entries for Lockheed for the year ended December 31, 2018. For the fiscal year ended December 31, 2018, TCG reported a net loss of $35,400 and paid dividends of $17,700. In addition, complete a consolidated worksheet for Lockheed and its subsidiary TCG as of December 31, 2018, showing all consolidated totals.

On January 1, 2016 a Syracuse, NY based company Lockheed, purchased 80% ownership in TCG, incorporated. The acquisition allowed Lockheed the ability to have control over the very profitable TCG organization. Lockheed paid $1,504,500 in cash to acquire the necessary shares. The estimated fair value of the non-controlling interest on that date was $336,300. On the acquisition date, the general ledger of TCG showed the following net assets: A. Subsidiary has los common stock ($10 par) think about adw or Paid-in capital in excess of par 265,500 354,000 708,000 Retained earnings 1,327,500 Lockheed contracted with EY to of differences found: determine the fair value of net assets for TCG, incorporated. The following is a sum mary Book Value Fair Value Equipment, 10 year remaining life Land Building, 20 year re amining life 318,600 265,500 269,040 460,200 300,900 375,240 It was decided that any remaining excess value was attributed to goodwill