January 1, 2013 Acquisition Date Data:

Bamb-Bamb Incorporated acquired 80 percent of the outstanding common stock of Pebbles Corporation on January 1, 2013. Bamb-Bamb Incorporated paid a total of $910,000 in cash for these shares. The 20 percent noncontrolling interest shares had a total fair value of $215,000 both before and after Bamb-Bamb Incorporated's acquisition. The Book Value of Pebbles Corporation's Net Assets on January 1, 2013 was $550,000, which included the following:

Pebbles Corporations January 1, 2013 Owners Equity

Common Stock

($150,000)

Additional Paid In Capital

($195,000)

Retained Earnings, January 1, 2013

($205,000)

Bamb-Bamb Incorporated uses the Partial Equity method for internal recordkeeping to monitor the activities of Pebbles Corporation. At the acquisition date, the carrying amounts of Pebbles Corporation's assets and liabilities were generally equivalent to the fair value except for the following:

Assets/Liabilities

Book Value

Fair Value

Reaming Useful Life

Equipment (Net)

$80,000

$100,000

10 Years

Buildings (Net)

$315,000

$510,000

20 Years

Land

$120,000

$165,000

-

Loan Payable

($230,000)

($260,000)

8 Years

Fiscal Year 2014 Data:

On January 1, 2014 Bamb-Bamb Inc sold Pebbles Corp a Building for $150,000 cash. The Buildings net book value on January 1, 2014 was $90,000 and its originally purchased price was $115,000. The building is expected to be usable for another 15 years. Both Bamb-Bamb and Pebbles use the straight-line method for depreciating assets.

On January 1, 2014, Bamb-Bamb Incorporated acquired all of Pebbles' Corp outstanding bonds payable specifically to reduce the business combination's debt position. Pebbles Corporation makes cash interest payments of 4% each year; the market rate of return on the date the bonds were initially issued by Pebbles Corporation was 7%. Bond interest payments are made each December 31st. On January 1, 2014 the bonds had an outstanding book value of $231,391. Bamb-Bamb Incorporated paid $300,248 on January 1, 2014 for Pebbles Corp's outstanding bonds, at which time the market rate of return was 2%.

A.) Calculate the goodwill allocation over the controlling and noncontrolling interest owners on January 1, 2013.

B.) Prepare the consolidated journal entries on December 31, 2015 for the Intra-Entity Building Transfer.

C.) Prepare the consolidated journal entry on December 31, 2015 to eliminate the Intra-Entity Bond Holding.

D.) Calculate the noncontrolling interest in Pebbles Corporation as of December 31, 2015.

E.) The following consolidated worksheet for Bamb-Bamb Incorporated and Pebbles Corporation is to be used along with the information provided above to determine the consolidated balances "1)" through "13)" below [Note: Calculations are involved]:

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