b. Given the following acquisition-date balance sheets of the parent and the subsidiary, prepare the consolidation entries. \begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|c|}{ Balance Sheet } & Parent & Subsidiary \\ \hline Assets & & \\ \hline Cash & $514,020 & $265,160 \\ \hline Accounts receivable & 450,300 & 633,360 \\ \hline Inventory & 650,000 & 813,540 \\ \hline Equity investment & 3,780,000 & \\ \hline Property, plant \& equipment & 10,600,000 & 2,255,140 \\ \hline & $15,994,320 & $3,967,200 \\ \hline Liabilities and stockholders' equity & & \\ \hline Accounts payable & $150,480 & $177,800 \\ \hline Accrued liabilities & 176,640 & 309,400 \\ \hline Long-term liabilities & 3,840,000 & 910,000 \\ \hline Common stock & 428,400 & 432,000 \\ \hline APIC & 3,864,000 & 477,500 \\ \hline Retained earnings & 7,534,800 & 1,660,500 \\ \hline & $15,994,320 & $3,967,200 \\ \hline \end{tabular} c. Prepare the consolidation spreadsheet d. Where were the intanghie assets on the parent or subsdiary's balance sheets? On the parenty balance shent embedded in the equity investment accounc. On the subsidarys balance sheet, each insangble asset is lated Consolidation at date of acquisition (purchase price greater than book value, acquisition journal entries value of 1249000 , an uncecorded video wbrary valued as $600,000, and Patered Technologr wo h a for value of $125,000 a. Preparn the journal entry that the parent makes to recerd the acqusutoon. b. Given the following acquisition-date balance sheets of the parent and the subsidiary, prepare the consolidation entries. \begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|c|}{ Balance Sheet } & Parent & Subsidiary \\ \hline Assets & & \\ \hline Cash & $514,020 & $265,160 \\ \hline Accounts receivable & 450,300 & 633,360 \\ \hline Inventory & 650,000 & 813,540 \\ \hline Equity investment & 3,780,000 & \\ \hline Property, plant \& equipment & 10,600,000 & 2,255,140 \\ \hline & $15,994,320 & $3,967,200 \\ \hline Liabilities and stockholders' equity & & \\ \hline Accounts payable & $150,480 & $177,800 \\ \hline Accrued liabilities & 176,640 & 309,400 \\ \hline Long-term liabilities & 3,840,000 & 910,000 \\ \hline Common stock & 428,400 & 432,000 \\ \hline APIC & 3,864,000 & 477,500 \\ \hline Retained earnings & 7,534,800 & 1,660,500 \\ \hline & $15,994,320 & $3,967,200 \\ \hline \end{tabular} c. Prepare the consolidation spreadsheet d. Where were the intanghie assets on the parent or subsdiary's balance sheets? On the parenty balance shent embedded in the equity investment accounc. On the subsidarys balance sheet, each insangble asset is lated Consolidation at date of acquisition (purchase price greater than book value, acquisition journal entries value of 1249000 , an uncecorded video wbrary valued as $600,000, and Patered Technologr wo h a for value of $125,000 a. Preparn the journal entry that the parent makes to recerd the acqusutoon
