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Pie Corporation acquired 75 percent of Slice Company's ownership on January 1,208, for $96,000. At that date, the fair value of the noncontrolling interest was $32,000. The book value of Slice's net assets at acquisition was $92,000. The book values and fair values of Slice's assets and liabilities were equal, except for Slice's buildings and equipment, which were worth $18,400 more than book value. Accumulated depreciation on the buildings and equipment was $27,000 on the acquisition date. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, the management of Pie concluded at December 31, 20x8, that goodwill from its purchase of Slice shares had been impaired and the correct carrying amount was $3,200. Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders. Trial balance data for Pie and Slice on December 31,208, are as follows: Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20x8, for $96,000. At that date, the fair value of the noncontrolling interest was $32,000. The book value of Slice's net assets at acquisition was $92,000 The book values and fair values of Slice's assets and liabilities were equal, except for Slice's buildings and equipment, which were worth $18,400 more than book value. Accumulated depreciation on the buildings and equipment was $27,000 on the acquisition date. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, the management of Pie concluded at December 31, 20x8, that goodwill from its purchase of Slice shares had been impaired and the correct carrying amount was $3,200, Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders. Trial balance data for Ple and Slice on December 31, 20X8, are as follows: b. Prepare a three-part consolidation worksheet for 208. Note: Volues in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus slgn, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entrles are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet
