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On January 1 , 2 0 2 3 , Holland Corporation paid $ 7 per share to a group of Zeeland Corporation shareholders to acquire

On January 1,2023, Holland Corporation paid $7 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares Required:
a1. Compute the amount of goodwill recognized in Holland's acquisition of Zeeland.
a2. Show the allocation of goodwill to the controlling and noncontrolling interest.
b. Show how Holland determined Its December 31,2024, Investment in Zeeland account balance.
c. Prepare a worksheet to determine the amounts that should appear on Holland's December 31,2024, consolldated financial
statements.
Complete this question by entering your answers in the tabs below.
a1. Compute the amount of goodwill recognized in Holland's acquisition of Zeeland.
a2. Show the allocation of goodwill to the controlling and noncontrolling interest.
b. Show how Holland determined its December 31,2024, Investment in Zeeland account balance.
Note: Negative amounts should be shown with a minus sign.
b. Change in Zeeland's Retained earnings
of Zeeland's outstanding voting stock, representing a 60 percent ownership interest. The remalning 40,000 shares of Zeeland
continued to trade in the market close to its recent average of $5.00 per share both before and after the acquisition by Holland.
Zeeland's acquisition date balance sheet follows:
On January 1,2023, Holland assessed the carrying amount of Zeeland's equipment (5-year remaining life) to be undervalued by
$45,000. Holland also determined that Zeeland possessed unrecorded patents (10-year remaining life) worth $244,800. Zeeland's
acquisition-date falr values for Its current assets and llabilitles were equal to thelr carrying amounts. Any remalning excess of Zeeland's
acquisition-date falr value over its book value was attributed to goodwill.
The companles' financlal statements for the year ending December 31,2024, follow:
At year-end, there were no intra-entity recelvables or payables.
Required:
a1. Compute the amount of goodwill recognized in Holland's acquisition of Zeeland.
a2. Show the allocation of goodwill to the controlling and noncontrolling interest.
b. Show how Holland determined its December 31,2024, Investment In Zeeland account balance.
c. Prepare a worksheet to determine the amounts that should appear on Holland's December 31,2024, consolidated financlal
statements.
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