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On January 1, 2021, Marshall Company acquired 100 percent af the outstanding common stock af Tucker Comparyy. To acquire these shares, Marshall issued $280,000 in

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On January 1, 2021, Marshall Company acquired 100 percent af the outstanding common stock af Tucker Comparyy. To acquire these shares, Marshall issued $280,000 in long-term liabilities and 20,000 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Marshall paid $31,500 to accountants, lawyers, and brokers for assistance in the acquisition and another $16,000 in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows: Note: Parentheses indicate a credit bolance. In Marshall's appraisal of Tucker, it deemed three accounts to be undervalued on the subsidiary's books: Irventory by $6,500, Land by $21,600, and Bulidings by $30,600. Marshal plans to maintain Tucker's separate legal identity and to aperate Tucker as a wholy awned subsidiary- a. Determine the amounts that Marshall Company would report in its postacquisition consolidated balance sheet. In preparing the postacquisition balance shect, any required adjustments to income accounts from the acquisition should be closed to Marshall's retained earnings. Other accounts will also need to be added or adjusted to reflect the joumal entries Marshall prepared in recording the acquisition. b. To verify the answers found in part (a), prepare a workshect to consolidate the balance shects af these two companies as of January 1, 2021. Complete this question by entering your answers in the tabs below. Determine the amounts that Marshall Company would report in its postacquisition consolidated balance sheet. In preparing the postacquisition balance sheet, any required adjustments to income accounts from the acquisition should be closed to Marshall's retained eamings. Other accounts will also need to be added or adjusted to reflect the fournal entries Marshall prepared in recording the acquisition. (Input all amounts as positive values.) To verify the answers found in part (a), prepare a worksheet to consolidate the balance sheets of these two companies as of January 1, 2021. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.) On January 1, 2021, Marshall Company acquired 100 percent af the outstanding common stock af Tucker Comparyy. To acquire these shares, Marshall issued $280,000 in long-term liabilities and 20,000 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Marshall paid $31,500 to accountants, lawyers, and brokers for assistance in the acquisition and another $16,000 in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows: Note: Parentheses indicate a credit bolance. In Marshall's appraisal of Tucker, it deemed three accounts to be undervalued on the subsidiary's books: Irventory by $6,500, Land by $21,600, and Bulidings by $30,600. Marshal plans to maintain Tucker's separate legal identity and to aperate Tucker as a wholy awned subsidiary- a. Determine the amounts that Marshall Company would report in its postacquisition consolidated balance sheet. In preparing the postacquisition balance shect, any required adjustments to income accounts from the acquisition should be closed to Marshall's retained earnings. Other accounts will also need to be added or adjusted to reflect the joumal entries Marshall prepared in recording the acquisition. b. To verify the answers found in part (a), prepare a workshect to consolidate the balance shects af these two companies as of January 1, 2021. Complete this question by entering your answers in the tabs below. Determine the amounts that Marshall Company would report in its postacquisition consolidated balance sheet. In preparing the postacquisition balance sheet, any required adjustments to income accounts from the acquisition should be closed to Marshall's retained eamings. Other accounts will also need to be added or adjusted to reflect the fournal entries Marshall prepared in recording the acquisition. (Input all amounts as positive values.) To verify the answers found in part (a), prepare a worksheet to consolidate the balance sheets of these two companies as of January 1, 2021. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values.)

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