in Marshall's appraisal of Tucker, it deemed three accounts to be undervalued on the subsidiary's books: inventory by $8,300 land by $23,200, and Buildings by $42,200, Marshall's plans to maintain Tucker's separate legal identity and to operate Tucker as a wholly owned subsidiary.

Determine the amounts that Marshall Company would report in it's postacquisition balance sheet. in preparing the postacquisition sheet. any required adjustments to income accounts from the acquisition should be closed to Marshall's retained earnings. other accounts will also need to be added or adjusted to reflect the journal entries Marshall prepared in recording the acquisition.

to verify the answer found in part (a), prepared a worksheet to consolidate the balance sheets of these two companies as of January 1,2021.