Alpha Corporation purch 80% of Beta Company on January 1 2020, for $149.200 On that date controlling in hand fair value of $37 520 and Beta reported common stock outstanding of $100.000 and retained earnings of $50,000. The differentia is partially comprised as follows Asset Remaining Life Value Building and Equipment 10 years $20,000 Patents 5 years 10,000 Inventory 5,000 During 2020 Beta had income or S45,000 and paid dividends of S10.000. Alpha uses the equity method in accounting for ownership of Beta On December 31, 2021 the trail balance of the companies are as follow Alpha Corporation Beta Company Income Statement Sales 200 000 175.000 Cost of Goods Sold 99,800 -61.000 Depreciation Expense -25,000 - 17400 Interest Expense 6.000 - 14,000 Income From Subsidiary 32,504 Consolidated Net Income 101,704 82.000 Statement of Retained Earrings Beginning dance 228.980 55.000 Net Income 101,704 62.600 Less: Dividends Declarec 40,000 -20.000 Ending on 290,264 547,600 Balance Sheet Cash & Accounts Receivable 81,400 39.200 Inventory 89,383 135.000 Investment in Bola 173,784 Investment in Bonds of Beta 94.823 Land 40.000 30.000 Buildings & Equipment 504,000 362.000 Accumulated Deprecation - 168.000 -77.400 Total Assets 315.390 488,800 41.200 200.000 Accounts Payable Bonds Payable Bond Premium Common Stock Retired Caming Total Liabilities & Equity 246.925 80.000 1.200 200 000 290 264 815,390 100.000 147.600 468.800 Butasold inventory coding 554,000 to Alpha for $101.685 in 2020. Apha hold $11.000 in inventory at the end of 2020. Binta sole Inventory costing 507,000 to Alphan 2021 for $194,000 Alpha held $20,000 in inventory at the end of 2021 On 11/2020 Alpha sold equipment with a book value of $9.000 to Geta for $12.000. The equipment original cost Alpha S15.000 The scuipment has a remaining We of years at 1/1/2020. On January 1 2020 Betissue 10 year, 11% bonds payable with a per value of $100.000. The bonds are ssued at a premium 5106221 to yield the current market interest rate of 10% Anonated investor purchases the bonds from Beta. The bonds pay interest on June 30 and December 31. Both Alpha and Beta amortize the bond premium and discounting the rective interest ralo. On December 31, 2020 Alpha purchases the bonds from the nonfilialed investor for $84,377. Wion of Acquisition VR Total Investment-tleta NCI Acquisition V 150.000 169,280 37320 Goodwie 1.600 FV and Asset 185.000 Excess V 35,000 Net Assets 150 000 1. Record the equity entries made by Alpha for 2020 and 2021 2. Prepare the analysis and entries required for the worksheet in 2020 and 2021 Alpha Corporation purch 80% of Beta Company on January 1 2020, for $149.200 On that date controlling in hand fair value of $37 520 and Beta reported common stock outstanding of $100.000 and retained earnings of $50,000. The differentia is partially comprised as follows Asset Remaining Life Value Building and Equipment 10 years $20,000 Patents 5 years 10,000 Inventory 5,000 During 2020 Beta had income or S45,000 and paid dividends of S10.000. Alpha uses the equity method in accounting for ownership of Beta On December 31, 2021 the trail balance of the companies are as follow Alpha Corporation Beta Company Income Statement Sales 200 000 175.000 Cost of Goods Sold 99,800 -61.000 Depreciation Expense -25,000 - 17400 Interest Expense 6.000 - 14,000 Income From Subsidiary 32,504 Consolidated Net Income 101,704 82.000 Statement of Retained Earrings Beginning dance 228.980 55.000 Net Income 101,704 62.600 Less: Dividends Declarec 40,000 -20.000 Ending on 290,264 547,600 Balance Sheet Cash & Accounts Receivable 81,400 39.200 Inventory 89,383 135.000 Investment in Bola 173,784 Investment in Bonds of Beta 94.823 Land 40.000 30.000 Buildings & Equipment 504,000 362.000 Accumulated Deprecation - 168.000 -77.400 Total Assets 315.390 488,800 41.200 200.000 Accounts Payable Bonds Payable Bond Premium Common Stock Retired Caming Total Liabilities & Equity 246.925 80.000 1.200 200 000 290 264 815,390 100.000 147.600 468.800 Butasold inventory coding 554,000 to Alpha for $101.685 in 2020. Apha hold $11.000 in inventory at the end of 2020. Binta sole Inventory costing 507,000 to Alphan 2021 for $194,000 Alpha held $20,000 in inventory at the end of 2021 On 11/2020 Alpha sold equipment with a book value of $9.000 to Geta for $12.000. The equipment original cost Alpha S15.000 The scuipment has a remaining We of years at 1/1/2020. On January 1 2020 Betissue 10 year, 11% bonds payable with a per value of $100.000. The bonds are ssued at a premium 5106221 to yield the current market interest rate of 10% Anonated investor purchases the bonds from Beta. The bonds pay interest on June 30 and December 31. Both Alpha and Beta amortize the bond premium and discounting the rective interest ralo. On December 31, 2020 Alpha purchases the bonds from the nonfilialed investor for $84,377. Wion of Acquisition VR Total Investment-tleta NCI Acquisition V 150.000 169,280 37320 Goodwie 1.600 FV and Asset 185.000 Excess V 35,000 Net Assets 150 000 1. Record the equity entries made by Alpha for 2020 and 2021 2. Prepare the analysis and entries required for the worksheet in 2020 and 2021