Excess allocation worksheet, consolidation worksheet journal entries, and consolidation worksheet.

Matthews Co. acquired all of the common stock of Jackson Co. on January 1, 2012. As of that date, Jackson had the following trial balance: During 2012, Jackson reported net income of $96,000 while paying dividends of $12,000. During 2013, Jackson reported net income of $132,000 while paying dividends of $36,000. Assume that Matthews Co. acquired the common stock of Jackson Co. for $588,000 in cash. As of January 1, 2012, Jackson's land had a fair value of $102,000, its buildings were valued at $188,000, and its equipment was appraised at $216,000. Any excess of consideration transferred over fair value of assets and liabilities acquired is due to an unrecorded patent to be amortized over 10 years. Matthews decided to use the equity method for this investment. Prepare Excess Allocation Worksheet/Amortization Calculations for date of acquisition. Prepare consolidation worksheet journal entries for December 31, 2012 and December 31, 2013. Prepare consolidation worksheet for December 31, 2013 only - either balance sheet only or balance sheet and retained earnings statement. (See next page for 12/31/13 financial information for both companies.)