On January 1, 2019, Aronson Company acquired 90 percent of Siedel Companys outstanding shares. Siedel had a net book value on that date of $496,200: common stock ($10 par value) of $205,000 and retained earnings of $291,200. Aronsen paid $594,900 for this investment. The acquisition-date fair value of the 10 percent noncontrolling interest was $66,100. The excess fair value over book value associated with the acquisition was used to increase land by $84,480 and to recognize

On January 1, 2019, Aronsen Company acquired 90 percent of Sledel Company's outstanding shares. Sledel had a net book value on that date of $496,200 : common stock ( $10 par value) of $205,000 and retalned earnings of $291,200. Aronsen pald $594,900 for this Investment. The acquisition-date falr value of the 10 percent noncontrolling Interest was $66,100. The excess falr value over book value assoclated with the acquisition was used to Increase land by $84,480 and to recognize copyrights (16-year remaining life) at $80,320. Subsequent to the acquisition, Aronsen applied the Initlal value method to its Investment account. In the 2019-2020 perlod, the subsidlary's retalned earnings Increased by $100,400. During 2021, Sledel earned Income of $81,000 while declaring $20,200 in dividends. Also, at the beginning of 2021, Sledel Issued 4,100 new shares of common stock for $38 per share to finance the expansion of its corporate facilities. Aronsen purchased none of these addltional shares and therefore recorded no entry. Prepare the approprlate 2021 consolidation entrles for these two companles. (If no entry ls requlred for a transactlon/event, select "No journal entry required" In the first account fleld.) Consolidation Worksheet Entries 23456 Prepare entry * C to convert to the equity method. Note: Enter debits before credits. Consolidation Worksheet Entries 456 Prepare Entry C1 to record the adjustment for the subsidiary stock transaction. Note: Enter debits before credits. Consolidation Worksheet Entries 6 Prepare Entry S to eliminate the subsidiary accounts. Note: Enter debits before credits. Consolidation Worksheet Entries