I need help answering all these questions
recorded as a patent (NO | goodwill) with useful life of 25 years. Calculate patent (2 points) and allocated calculated patent between controlling and noncontrolling interest (NCI) on 12/31/2018 (acquisition date) (3 points). (total 5 points) 2) Calculate annual amortization excess FV>BV of equipment, building, and patent? (1.5 point) 3) Calculate "investment in Allie" balance on 12/31/2019. (5 points) 4) Calculate "equity in Allie's income" balance on 12/31/2019. (3 point) 5) Prepare consolidation entry S (journal entry) for consolidated financial statement ending 12/31/2019. (2.5 points) 6) Prepare consolidation entry A (journal entry) for consolidated financial statement ending 12/31/2019. (2.5 points) 7) Prepare consolidation entry I (journal entry) for consolidated financial statement ending 12/31/2019. (1 point) 8) Prepare consolidation entry D (journal entry) for consolidated financial statement ending 12/31/2019. (1 point) 9) Prepare consolidation entry E (journal entry) for consolidated financial statement ending 12/31/2019. (3 points) 10) Choco's net income only from its own operation (excluding 90% of Allies ownership as "Equity in Allie's income") in 2019 was $580,000. What is consolidated net income for 2019 attributable to Choco's controlling interest (i.e., NI:Choco in consolidated income statement)? (4 points) 11) What is the noncontrolling interest (NCI)'s share of the Allie's net income for the year ended December 31, 2019 (i.e., i.e., NI:NCI in consolidated income statement)? (3 point) 12) What is the beginning balance of the noncontrolling interest (NCI) in the Allie at December 31, 2019 (i.e., NCI in Cake 1/1)? (3 points) 13) What is the ending balance of the noncontrolling interest (NCI) in the Allie at December 31, 2019 (i.e., NCI in Cake 12/31)? (4 points)1. Choco Co. acquired 90% of Allie Co. (Allie has total of 100,000 shares outstanding and Choco acquired 90,000 shares) for $810,000 ($9/share) on December 31, 2018. The market value of Allie's stock was $9/share. Choco uses equity method to report its investment in Allie. 12/31/2018 Choco Co. Allie Co. BV BV FV Current assets $1,368,000 $238,000 $238,000 Equipment [8 years] 164,000 280,000 360,000 Buildings [20 years] 274,000 210,000 270,000 Liabilities $(546,000) $(168,000) $(168,000) Common stock (300,000) (150,000) Additional paid in capital (460,000) (350,000) Retained earnings [12/31/18] (500,000) (60,000) "note: numbers in this table in () refer to credit balance. During 2019, Allie earned net income of $180,000 and paid dividends of $22,000. 1) All excess payment that Choco paid to purchase Allie will be recorded as a patent (NOT goodwill) with useful life of 25 years. Calculate patent (2 points) and allocated calculated patent between controlling and noncontrolling interest (NCI) on 12/31/2018 (acquisition date) (3 points). (total 5 points) 2) Calculate annual amortization excess FV>BV of equipment, building, and patent? (1.5 point) 3) Calculate "investment in Allie" balance on 12/31/2019. (5 points) 4) Calculate "equity in Allie's income" balance on 12/31/2019. (3 point) 5) Prepare consolidation entry S (journal entry) for consolidated financial statement ending 12/31/2019. (2.5 points) 6) Prepare consolidation entry A (journal entry) for consolidated financial statement ending 12/31/2019. (2.5 points) 7) Prepare consolidation entry I (journal entry) for consolidated financial statement ending 12/31/2019. (1 point) 8) Prepare consolidation entry D (journal entry) for consolidated financial statement ending 12/31/2019. (1 point) 9) Prepare consolidation entry E (journal entry) for consolidated financial statement ending 12/31/2019. (3 points) 10) Choco's net income only from its own operation (excluding
