Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2019. Miller paid $800,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $200,000 both before and after Miller's acquisition On January 1, 2019, Taylor reported a book value of $674,000 (Common Stock = $337,000; Additional Pald-in Capital - $101100; Retained Earnings - $235,900). Several of Taylor's buildings that had a remaining life of 20 years were undervalued by a total of $89,800 During the next three years, Taylor reports income and declares dividends as follows: Dividends 103,500 23,300 Year 2019 2020 2021 Net Income $ 79,000 $11,500 17,400 115,900 Determine the appropriate answers for each of the following questions: a. What amount of excess depreciation expense should be recognized in the consolidated financial statements for the initial years following this acquisition? b. If a consolidated balance sheet is prepared as of January 1, 2019, what amount of goodwill should be recognized? c. If a consolidation worksheet is prepared as of January 1, 2019, what Entry S and Entry A should be included? d. On the separate financial records of the parent company, what amount of investment income would be reported for 2019 under each of the following accounting methods? The equity method. The partial equity method. The initial value method. e. On the parent company's separate financial records, what would be the December 31, 2021, balance for the investment in Taylor Company account under each of the following accounting methods? The equity method. The partial equity method. The initial value method. f. As of December 31, 2020, Miller's Buildings account on its separate records has a balance of $932,000 and Taylor has a similar account with a $349,500 balance. What is the consolidated balance for the Buildings account? g. What is the balance of consolidated goodwill as of December 31, 2021? h. Assume that the parent company has been applying the equity method to this investment. On December 31, 2021, the separate financial statements for the two companies present the following information: Common stock Additional paid-in capital Retained earnings, 12/31/21 Miller Company $ 582,500 326,200 722,300 Taylor Company $ 337,000 101,100 482,100 What will be the consolidated balance of each of these account? uestion by entering your answers in the tabs below. Req A and B ReqC Reg D and E Reg Fund G ReqH Req F and G a.What amount of excess depreciation expense should be recognized in the consolidated financial statements for the initi years following this acquisition? b. If a consolidated balance sheet is prepared as of January 1, 2019, what amount of goodwill should be recognized? a. Amount of excess depreciation Amount of goodwill $ 4.490 b. $ 236,200 Req A and B DOLCE Reg C TWEWE Reg D and E Req F and G ReqH If a consolidation worksheet is prepared as of January 1, 2019, what Entry S and Entry A should be included? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Date Accounts Debit Credit 1 January 01, 2019 Common stock - Taylor Additional paid-in capital - Taylor Retained earnings - Taylor Investment in Taylor Noncontrolling interest in Taylor 337,000 101,100 235,900 539,200 134,800 2 January 01, 2019 Buildings Goodwill Investment in Taylor Noncontrolling interest in Taylor 89,800 236,200 260,800 65,200 Req A and B Reg C Reg D and E Req F and G Reg H d. On the separate financial records of the parent company, what amount of investment income would be reported for 2019 under each of the following accounting methods? e. On the parent company's separate financial records, what would be the December 31, 2021, balance for the Investment in Taylor Company account under each of the following accounting methods? Show less d. Investment Income IS 59,608 The equity method The partial equity method The initial value method Investment Balance $ 986, 184 S 996,960 S 63,200 $ 9.200 $ 800,000 Answer is not complete. Complete this question by entering your answers in the tabs below. Req A and B Reqc Reg D and Reg F and G ReqH 1. As of December 31, 2020, Miller's Buildings account on its separate records has a balance of $932,000 and Taylor has a similar account with a $349,500 balance. What is the consolidated balance for the Buildings account? 9. What is the balance of consolidated goodwill as of December 31, 2021? 1. Consolidated balance Consolidated balance 9 Assume that the parent company has been applying the equity method to this investment. On December 31, 2021, the separate financial statements for the two companies present the following information: Miller Company Taylor Company Common stock 582,500 337,000 Additional paid-in capital 326,200 101,100 Retained earnings, 12/31/21 722,300 482,100 What will be the consolidated balance of each of these accounts? $ Show less Common stock Additional paid-in capital Retained earnings 12/31/21