one question in two picture

Problem 3: 10 points Mercedes Co acquired all of the Colon stock of Tesla Co. CA January 1, 2018. As eftbar date, Teils had the following trial balance Book Valse Fair Matar Current Assets 350.000 530,000 Land $50,0 13100,000 Buildings Cyears) 5200,000 $300,000 Egipt(10years) 3100,000 590,000 Net Income yetded 12/31/18 3100.000 $10.000 350,000 Dividends year eaded 1231/18 Certon Stock Test (510 para Adal PadAn Capital (5000 hores outstanding Reed Earnips, L118 3250.000 $100,000 Arts that Mercedes C acquired the contestock of Teda for $600.000 is it. Any escans of cortion transferred over for sale of stats and liabilities acquired de to goodwill Mercedes is in the equity method for this NOTE: You will get so credit radyoter 03.) Prepare the any for 12/31/2011(Write the journal entry, print the one of the account) and write the dollat monclearly)(Show below all calculations to get full credit) (3) Prepare the try for 1231 2018 (Write the journalty, print the name of the account(s) and write the della ments curly) (Show below all calculations to ref full credit) Plan Prepare the Estry for 1231.2018 (se the journal print the name of the cou) and write the della nota derly) (Show below all calculations to get full credit) Mercedes Co. acquired all of the common stock of Tesla Co. on January 1, 2018. As of that date, Tesla had the following trial balance: Book Value Fair Value Current Assets $50,000 $50,000 Land $50,000 $100,000 Buildings (20 years) $200,000 $300,000 Equipment(10 years) $100,000 $80,000 Net Income year ended 12/31/18 $100,000 $10,000 $50,000 Dividends year ended 12/31/18 Common Stock-Tesla ($10 par value) Additional Paid-In Capital (5,000 shares outstanding) Retained Earnings, 1/1/18 $250,000 $100,000 Assume that Mercedes Co. acquired the common stock of Tesla for $600,000 in cash Any excess of consideration transferred over fair value of assets and liabilities acquired is due to goodwill. Mercedes is using the equity method for this investment. NOTE: You will get no credit if I can't read your answer: (P31) Prepare the S Entry for 12/31/2018 (Write the journal entry, print the name of the account(s) and write the dollar amounts clearly.) (Show below all calculations to get full credit.) (P311) Prepare the I Entry for 12/31/2018 (Write the journal entry, print the name of the account(s) and write the dollar amounts clearly) (Show below all calculations to get full credit.) (P3111) Prepare the E Entry for 12/31/2018 (Write the journal entry, print the name of the account(s) and write the dollar amounts clearly) (Show below all calculations to get full credit.) 1