E 14-5 Acquisition-Excess allocation and amortization effect On January 1, 2016, Krab Co. Ltd. of Thailand acquires an 80 percent interest in Shin Co. Inc., a Japanese firm, for 150bn Thai baht on January 1, 2016, when the book value of Shin's net assets equals fair value, and the remainder is a 10-year patent. Shin's equity consists of 300bn common stock and Y50bn retained earnings. Shin's functional currency is the Japanese yen. The exchange rate for the Japanese yen for 2016 is as follows: January 1, 2016 0.30 Thai baht Average for 2016 0.28 Thai Baht December 31, 2016 0.32 Thai Baht REQUIRED 1. Determine the excess amortization in Thai baht for 2016. 2. Prepare journal entries to record the amortization