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I need some help for my accounting homework A On January 1, 20 A Co. acquired 70% of Carolina Inc. by paying $650,000. This included

I need some help for my accounting homework

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A On January 1, 20 A Co. acquired 70% of Carolina Inc. by paying $650,000. This included a $20,000 control premium. The fair value of the NCI is 270,000. Carolina reported common stock on that date of $420,000 with retained earnings of $252,000. Time A building was undervalued in the company's financial records by $28,000. This building had a ten-year remaining life. Attempt Copyrights of $80,000 were to be recognized and amortized over 20 years. VA uses the equity method. 2 Hour Carolina earned income and paid cash dividends as follows: Fiscal Year Net Income Dividends Paid 2018 $105,000 $54,600 2019 134,400 61.600 2020 154,000 84,000 On December 31, 2020, VA owed $30,800 to Carolina. There have been no changes in Carolina's common stock account since the acquisition. Use the following account titles (copy and paste) for fill in the blank questions involving account names "ACCT1" "ACCT2", etc. USE NA if you believe the identified consolidation entry is not necessary. Building Amortization Expense Retained Earnings (Parent) Copyrights Depreciation Expense Retained Earnings (Sub) Goodwill Equity in Carolina Earnings NA Investment in Carolina Dividends Common Stock Land A/P A/R NCI in Carolina NCI in Carolina Net Income1. The excess attributed to Goodwill is $ and the total excess amortization is $ 2. The S entry debits retained earnings by $ and credits NCI in Carolina by $ 3. The I entry debits and credits by $ 4. The A2 (goodwill consolidation entry) credits Investment in Carolina by $ and credits by $ 5. The A1 entry debits, by $ and debits copyrights, by $ 6. The beginning NCI in Carolina is $ and the NCI in Carolina Net Income in 2020 is $ 7. The P entry debits and credits by $30,800. 8. The E entry debits and Amortization expense by $ and $ respectively

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