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On October 1,2022 , Tuohy Company exchanged 13,000 of its $50 fair value ( $1 par value) shares for 17,000(80%) of the outstanding shares of

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On October 1,2022 , Tuohy Company exchanged 13,000 of its $50 fair value ( $1 par value) shares for 17,000(80%) of the outstanding shares of Peralta's Company. Tuohy paid acquisition costs of $50,000. The two companies had the following balance sheets on October 1, 2022: The following fair values applied to Peralta's assets: 1. Record the investment in Peraita Company and any other purchase-related entry. 2. Prepare the value analysis schedule and the determination and distribution of excess schedule. 3. Prepare all elimination entries

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