CONSOLIDATION CASE $2$

SPRING $2024$

Duck Corporation acquired $70$ percent of the outstanding voting shares of Goose, Inc. on January $1^{t4}$ : $2022$ which it held as a subsidiary. Duck paid a total of $$1,610$ in cash for these shares. This payment represents the proportionate share of the fair value of Goose. On January $1"$t$,2022,$ Goose's book value was $$1,400$ and alt recorded assets and liabilities had fair values equal to their book values except equipment, with a $5-$year remaining life, that was under$-$valued on the company accounting records by $$200.$ Also Goose's newly developed patent, with an estimated life of $10-$vears, was assessed to have a fair value of $$400$ although it was not recorded an the books.

Adjusted Trial Balances as of December $31,{2023}_{?}$ were as follows:

$\backslash$table$[[$Debits$],[$Current Assets,,$$1,020$