Givens:

	GAGA	BIEBER
CASH	500000	15000
ACCOUNTS RECEIVABLE	400000	3000
LAND	500000	80000
EQUIPMENT	400000	45000
A/D EQUIPMENT	10000	5000
TOTAL ASSETS	1790000	138000
ACCOUNTS PAYABLE	300,000	40,000
COMMON STOCK 10 PAR	400000	30000
ADDITIONAL PAID IN CAPITAL	300000	30000
RETAINED EARNINGS	790,000	38,000

On January 2nd 2016 GAGA purchased all of the outstanding shares of BIEBER BY ISSUING 1000 SHARES OF ITS STOCK WHICH HAS A $60 MARKET PRICE PER SHARE At this time BIEBER'S LAND WAS WORTH $55000 AND ITS EQUIPMENT WITH A 5 YEAR LIFE WAS WORTH $10,000. IN ADDITION, BIEBER HAD A CUSTOMER LIST WITH A 10 YEAR LIFE WORTH $19000 ANY EXCESS IS ATTRIBUTABLE TO GOODWILL. GAGA HAS DECIDED THAT BIEBER WILL CONTINUE TO EXIST.

Required:

A) MAKE THE JOURNAL ENTRY GAGA MAKES WHEN IT ISSUES ITS SHARES TO ACQUIRE BIEBER

B) MAKE THE JOURNAL ENTRY BIEBER MAKES WHEN ITS OWNERS EXCHANGE THEIR BIEBER SHARES FOR GAGA SHARES

C) PREPARE A CONSOLIDATED BALANCE SHEET ON JANUARY 3RD

D) MAKE ANY NECESSARY WORKSHEET ENTRIES NEEDED TO PREPARE THE BALANCE SHEET

Please show all work to help me understand!