From consolidation entries S, A, I, and D, the balance of Investment in Allie Co. has $724,000 credit at the end of 2018. Prepare Entry *C consolidation worksheet entries for December 31, 2018(t+2).

What is the Equity in Allie Co. income balance on Choco's books as of December 31, 2018(t+2), if the initial value method has been applied?

Prepare Entry I, consolidation worksheet entries for December 31, 2018(t+2).

From consolidation entry S, A, I, and D, the balance of Investment in Allie Co. has $674,000 credit at the end of 2018. Prepare Entry *C consolidation worksheet entries for December 31, 2018(t+2).

Choco Inc. acquired all of the outstanding common stock of Allie Co. on January 1, 2017(t), for $620,000 cash. Following is the balance sheet for Allie Co. in December 31, 2016. Book Value Fair Value FV-BV Current assets $100,000 $100,000 Building (30 years) 200.000 260,000 Equipment (10 years) Total liabilities 300,000 $(140,000) $460,000 340,000 S(140,000) $560,000 Net assets Common stock $(200,000) Additional paid in capital (150,000) Retained earnings 12/31/2016 (110,000) Total Stockholders' equity $(460,000) Total liabilities and Stockholders' equity $(600,000) 2017(t+1) 2018(t+2) Net income Dividends Net income Dividends Allie (subsidiary) S(70,000) $10,000 $160,000) After Choco's acquisition, Allie Co. didn't had any changes in common stock and additional paid in capital. Choco Inc. acquired all of the outstanding common stock of Allie Co. on January 1, 2017(t), for $620,000 cash. Following is the balance sheet for Allie Co. in December 31, 2016. Book Value Fair Value FV-BV Current assets $100,000 $100,000 Building (30 years) 200.000 260,000 Equipment (10 years) Total liabilities 300,000 $(140,000) $460,000 340,000 S(140,000) $560,000 Net assets Common stock $(200,000) Additional paid in capital (150,000) Retained earnings 12/31/2016 (110,000) Total Stockholders' equity $(460,000) Total liabilities and Stockholders' equity $(600,000) 2017(t+1) 2018(t+2) Net income Dividends Net income Dividends Allie (subsidiary) S(70,000) $10,000 $160,000) After Choco's acquisition, Allie Co. didn't had any changes in common stock and additional paid in capital