N a cida controlling interest in a company on 1/1/201. Attime, the book value of Sara $36.970,000, including the following Company Book ValueReminde C inquiring the controlling interest, Puliman paid $10.450,000 cash in exchange for SSN of the outstanding voting o stock of Sere. At the time of the acquisition, the fair value of 100 ofertas outstanding common stock was $19,000,000 Pullman did not pay a control premium to acquire their SS controlling interest Any consideration paid in excess of the fair value of net assets acquired is assigned to goodwill The account balances for Pullman, Inc. and Sierra Company at 12/31/20x1 are as follows: 1103.750.000) 1298,000,000 271,000,000 in income of Sierra Company 31.3515 1 7.95 Retained earnings, January 1, 201 5,000,000 3,000,000 Retained earnings, December 31, 20x1 20.900.000 Investment in Sierra Company 13,161,500 1,700,000 22.360.000 5.600.000 3.100.000 SENSES 13.100.000 14.900.000) 11.000.000 2.900.000 28 861 500 05 SS Total 22AG A Prepare the journal entry to record Pullman's acquisition of Sierra Company Prepare a schedule showing the determination of goodwill if applicable for this acquisition C Prepare a schedule showing the allocation of any related purchase price adjustments to the acquired company's assets, including the related annual amortizations, applicable 2. For 12/11/2001, prepare a convidation worksheet for this transaction. Assume that no goodwill impairment adjustment is required. For the format, consider the Exhibit 4.6 on page 167 & use Excel) Consolidation Entries Non-controlling Entries Revenues Pullman, Inc. 1298.000.000) 271.000.000 14,361,500) 121 361 500 Sierra Company (103,750,000) 95.800.000 Equity in income of Sierra Company Separate net income 17.950.00 Consoldiated net income Net income attributable to NCI Net income attributable to Pullman Retained earnings, January 1, 20x1 Net income (above) Dividends paid Retained earnings, December 31, 20x1 (2,500,000 (31,361,500) 5.000.000 2861500 (100,000) (7,950.0001 3.000.000 5.050,00 20.800.000 Current Assets Investment in Sierra Company Land 30.500,000 13.161.500 1.500,000 5.600.000 3,100,000 1.700.000 2.360.000 2.960.000 Equipment (net) Goodwill Total assets 52861 500 27 120.000 13.100.000) Accounts payable Notes payable 14.900,000) (1,000.000 (6.000.0001 (10,870.0001 12,900.000 (19,000,000) Additional paid in capital Noncontrolling interest in Sierra, 1/1/20x1 Noncontrolling interest in Sierra, 12/31/20x1 15,050,000) Retained earnings, Dec. 31, 20x1 (above) Total liabilities and stockholders' equity (28,861 500) IS2_861_500 N a cida controlling interest in a company on 1/1/201. Attime, the book value of Sara $36.970,000, including the following Company Book ValueReminde C inquiring the controlling interest, Puliman paid $10.450,000 cash in exchange for SSN of the outstanding voting o stock of Sere. At the time of the acquisition, the fair value of 100 ofertas outstanding common stock was $19,000,000 Pullman did not pay a control premium to acquire their SS controlling interest Any consideration paid in excess of the fair value of net assets acquired is assigned to goodwill The account balances for Pullman, Inc. and Sierra Company at 12/31/20x1 are as follows: 1103.750.000) 1298,000,000 271,000,000 in income of Sierra Company 31.3515 1 7.95 Retained earnings, January 1, 201 5,000,000 3,000,000 Retained earnings, December 31, 20x1 20.900.000 Investment in Sierra Company 13,161,500 1,700,000 22.360.000 5.600.000 3.100.000 SENSES 13.100.000 14.900.000) 11.000.000 2.900.000 28 861 500 05 SS Total 22AG A Prepare the journal entry to record Pullman's acquisition of Sierra Company Prepare a schedule showing the determination of goodwill if applicable for this acquisition C Prepare a schedule showing the allocation of any related purchase price adjustments to the acquired company's assets, including the related annual amortizations, applicable 2. For 12/11/2001, prepare a convidation worksheet for this transaction. Assume that no goodwill impairment adjustment is required. For the format, consider the Exhibit 4.6 on page 167 & use Excel) Consolidation Entries Non-controlling Entries Revenues Pullman, Inc. 1298.000.000) 271.000.000 14,361,500) 121 361 500 Sierra Company (103,750,000) 95.800.000 Equity in income of Sierra Company Separate net income 17.950.00 Consoldiated net income Net income attributable to NCI Net income attributable to Pullman Retained earnings, January 1, 20x1 Net income (above) Dividends paid Retained earnings, December 31, 20x1 (2,500,000 (31,361,500) 5.000.000 2861500 (100,000) (7,950.0001 3.000.000 5.050,00 20.800.000 Current Assets Investment in Sierra Company Land 30.500,000 13.161.500 1.500,000 5.600.000 3,100,000 1.700.000 2.360.000 2.960.000 Equipment (net) Goodwill Total assets 52861 500 27 120.000 13.100.000) Accounts payable Notes payable 14.900,000) (1,000.000 (6.000.0001 (10,870.0001 12,900.000 (19,000,000) Additional paid in capital Noncontrolling interest in Sierra, 1/1/20x1 Noncontrolling interest in Sierra, 12/31/20x1 15,050,000) Retained earnings, Dec. 31, 20x1 (above) Total liabilities and stockholders' equity (28,861 500) IS2_861_500