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need help getting the amount for investment Following are selected accounts for Mergaronite Company and Hill, Inc., as of December 31, 2018. Several of Mergaronite's

need help getting the amount for investment

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Following are selected accounts for Mergaronite Company and Hill, Inc., as of December 31, 2018. Several of Mergaronite's accounts have been omitted. Credit balances are indicated by parentheses. Dividends were declared and paid in the same period Mergaronite Hill (620,000) (248,000) Revenues Cost of goods sold Depreciation expense Investment income Retained earnings, 1/1/18 Dividends declared Current assets Land Buildings (net) Equipment (net) Liabilities Common stock Additional paid-in capital 260,000 106,000 86,000 40,000 NA NA (914,000) 140,000 206,000 292,000 482,000 196,000 (404,000) (304,000) (50,000) (584,000) 38,000 694,000 92,000 142,000 256,000 (314,000) (38,000) (902,000) Assume that Mergaronite took over Hill on January 1, 2014, by issuing 7,800 shares of common stock having a par value of $10 per share but a fair value of $100 each. On January 1, 2014, Hill's land was undervalued by $21,000, its buildings were overvalued by $30,600, and equipment was undervalued by $59,400. The buildings had a 10-year remaining life; the equipment had a 5-year remaining life. A customer list with an appraised value of $100,000 was developed internally by Hill and was to be written off over a 20-year period a. Determine the December 31, 2018, consolidated totals for the following accounts b. In requirement (a), can the consolidated totals be determined without knowing which method the parent used to account for the subsidiary? c. If the parent uses the equity method, what consolidation entries would be used on a 2018 worksheet

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