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I need help with 1 how to compute the amount of goodwill at the date of acquisition 2 how to record the basic consolidation entry
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E Home Students M 4-3 Module Four Home x Road Corporation acquired all of Conger Corporation's voting shares on January 1, 20x2 for $476.000, At that time Conger reported common stock outstanding of $94,000 and retained earnings of $130,000 book values of Conger's assets and liabilities approximated fair values, except for land which had a book value of $94,000 and a fair value of S114,000, and buildings, which had a book value of S232.000 and a fair value of $417.000 Land and buildings are the only noncurrent assets that Conger holds. Required a. Compute the amount of goodwil at the date of acquisition. b Prepare the consolidating entry or entries required immediately following the acquisition to prepare a consolidated balance sheet (If no entry is required for a transactionevent, select "No journal entry required" in the first account field.) view transaction list view consolidation entries Consolidation Worksheet Entries Record the excess value (differential) reclassification entry Event 1 how to compute the amount of goodwill at the date of acquisition
2 how to record the basic consolidation entry
3 Record the excess value (differential) reclassification entry
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