On Jan 1, 2021, prior to the acquisition, Poker Co, and Strauss had condensed balance sheela as follows Current Assets Investments Fixed Assets Pok $ 50.000 90.000 00.000 Stru $20,000 -0 40,000 (Cash, Accounts receivable, Inventory Onvoutement in 2 where the main of the subsidiary oquired Land, Building Equipment accounts payable (Notos payable) Current Liabilities Cong-term Debt Common Stock Retained Earnings $ 30,000 50,000 50,000 100,000 $10.000 -0- 7.500 42,500 Polker acquired 90% of the outstanding common shares of Strauss on Winary 1, 2021. On the acquisition date, the total far value of Strauser was 100.000 Sixty percent (20%) of the excess conto the investment over Strausso's carrying amount of acquired net noget should be located to brettory and forty percent (40%) of the excess cost of the investment should be alocated to Equipment, INSTRUCTIONS: Provide correct answers for the indicated blank spaces. Following those requirements: 1. IF the dollar amount is in a journal entry, DO NO Included a dolar sign with that dolor amount Otherwise, include a delar sign for dollar amounts 2. Include a comma for dollar amounts where appropriate, og: this 6.750 NOT THIS 6750 3. Spelling is important Account names should be spelled exactly as reported in the balance sheet above. Note the SPECIFIC account names listed. Misspellings will be marked incorrect REQUIRED A Prepare the consolidation entry to () record the acquisition of Strauss and (2) treentry needed to prepare a consoldated balance sheet immediately after Poker acquired 90% of Strauss Note: Represent NCS HCM NA fox where xxx the name of the subsidiary On Jan 1, 2021, prior to the acquisition, Poker Co, and Strauss had condensed balance sheela as follows Current Assets Investments Fixed Assets Pok $ 50.000 90.000 00.000 Stru $20,000 -0 40,000 (Cash, Accounts receivable, Inventory Onvoutement in 2 where the main of the subsidiary oquired Land, Building Equipment accounts payable (Notos payable) Current Liabilities Cong-term Debt Common Stock Retained Earnings $ 30,000 50,000 50,000 100,000 $10.000 -0- 7.500 42,500 Polker acquired 90% of the outstanding common shares of Strauss on Winary 1, 2021. On the acquisition date, the total far value of Strauser was 100.000 Sixty percent (20%) of the excess conto the investment over Strausso's carrying amount of acquired net noget should be located to brettory and forty percent (40%) of the excess cost of the investment should be alocated to Equipment, INSTRUCTIONS: Provide correct answers for the indicated blank spaces. Following those requirements: 1. IF the dollar amount is in a journal entry, DO NO Included a dolar sign with that dolor amount Otherwise, include a delar sign for dollar amounts 2. Include a comma for dollar amounts where appropriate, og: this 6.750 NOT THIS 6750 3. Spelling is important Account names should be spelled exactly as reported in the balance sheet above. Note the SPECIFIC account names listed. Misspellings will be marked incorrect REQUIRED A Prepare the consolidation entry to () record the acquisition of Strauss and (2) treentry needed to prepare a consoldated balance sheet immediately after Poker acquired 90% of Strauss Note: Represent NCS HCM NA fox where xxx the name of the subsidiary
