Consolidation at date of acquisition (purchase price greater than book value, acquisition journal entries, deferred tax fisbility) Assume that the parens company acquires its subsidary in a hoctaxable' transaction by exchunging 60,000 shares of its 12 par valie Com subsidiarys pre acquistion identifiable net assets equal their book values. The parent company effective car rate is 22% a) Prepare the joumblentry thut the parent makes to recond the acquisition b. Given the following acquisition-date balance sheets for the parent and its subsidiary, prepare the consolidation spreadsh