Parent acquired 75% of subsidiary on January 1, 2019 for $1,200,000.  The non-controlling interest of 25% was valued at $400,000.  The book value (all common stock) of the acquired company on that date was $1,300,000 and the differential of $300,000 was identified as follows:

Remaining Life             Book Value      Fair Value

Building           10 years                       1,200,000         1,400,000

Automobiles    3 years                            50,000                62,000

Remaining differential was identified as goodwill.

 

Prepare the journal entry to record amortization of the differential in fiscal 2019 (the full year) and prepare the 2019 consolidation worksheet reclassification entry needed in association with the amortization of differential.