Pecos Company acquired 100 percent of Suaros outstanding stock for $1,450,000 cash on January 1, 2017, when Suaro had the following balance sheet:

Additional Information

Although at acquisition date Pecos expected future benefits from Suaros in-process research and development (R&D), by the end of 2017 it became clear that the research project was a failure with no future economic benefits.

During 2017, Suaro earns $75,000 and pays no dividends.

Selected amounts from Pecos and Suaros separate financial statements at December 31, 2018, are presented in the consolidated information worksheet. All consolidated worksheets are to be prepared as of December 31, 2018, two years subsequent to acquisition.

Pecoss January 1, 2018, Retained Earnings balancebefore any effect from Suaros 2017 incomeis $(930,000) (credit balance).

Pecos has 500,000 common shares outstanding for EPS calculations and reported $2,943,100 for consolidated assets at the beginning of the period.

Using separate worksheets, prepare Pecoss trial balances for each of the indicated accounting methods (equity, initial value, and partial equity). Use only formulas for the Investment in Suaro, the Income of Suaro, and Retained Earnings accounts.

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youe s she pakge h muitipie wockshee cagtis wokshoes uiherwie eh he Sur woksheos can esie in a sepe acea o ngle aaig e soluon, euch woeksboet should ak directly to the Bast woeksheo ceae uppiemenal scheduies o guhance the capubilities of your workshoet h eel thee Pruject Scenario Pecus Coimpany acquired 100 percens of Suagos outsanding soock for $1.4S0000 cash on lanuay 2017 when Suane had the following balance shees Assets Liabilities and Equity S422.000 Cash Receivabies $ 37.000 82.000 Liabilities 350.000 (126.000 Common stock Retained earnings Inventory 149.000 90,000 Land Equipment (net 225.000 315.000 Software $1898.000) Total labilities and equity $898.000 Total assets At the acquisition date, the fair values of each identifiable asset and liability that differed from book value were as follows $ 80,000 60,000 Land (indefinite life-unrecognized on Suaro's books) (2-year estimated remaining useful life) Brand name Software In-process R&D 415.000 300,000 Additional Information hanafite from Suaro's in-process research worksheet oty t your speeshees package has mahiple worksheet capahilites ce Escel you can h of the fr woksbeets can reside in a separate aa of a single In forwlating your solution, each worksheet should link directy to the iest warkshe feel free so create supplemental schodules to enhance the capahilities of your worksheet workshoes oherw Project Scenario Pecos Company acquired 100 percent of Suaro's outstanding stock for S1,450.000 cash on laaey 017, when Suaro had the following balance sheet Assets Liabilities and Equity Cash $ 37,000 82.000 149,000 Liabilities eceivables rventory and. ulpment (net) tware otal assets aso000 (126.000 Common stock Retained earnings 90,000 225.000 $(898,000 315,000 Total liabilities and equity $898,000 1 the acquisition date, the fair values of each identifiable asset and liability that differed from boc were as follows: (indefinite life-unrecognized on Suaro's books) (2-year estimated remaining useful life) $ 80,000 nd nd name 60,000 415,000 300,000 ware ocess R&D d Partial equity method consolidation w f your spreadsheet package has maltiple worksheet capabilities (e.g.. Excel), you can use separs worksheets; otherwise, each of the four worksheets can reside in a separate area of a single spreadben In formulating your solution, cach worksheet should link directly to the first workshen. Alsc feel free to create supplemental schedules to enhance the capabilities of your worksheet. Pecos Company acquired 100 percent of Suaro's outstanding stock for $1,450,000 cash on January 1. 2017, when Suaro had the following balance sheet: Project Scenario Liabilities and Equity Assets $/422.000 Liabilities $ 37,000 82,000 149,000 Cash Common stock Retained earnings. (350,000 (126,000 Receivables inventory Land. Equipment (net Software 90,000 225,000 315,000 Total liabilities and equity... $(898.000 $898,000 Total assets At the acquisition date, the fair values of each identifiable asset and liability that differed from book value were as follows $ 80,000 60,000 415,000 300,000 Land Brand name (indefinite life-unrecognized on Suaro's books) (2-year estimated remaining useful life) Software In-process R&D Additional Informaties link directly to the first worksheet. Als o create supplemental schedules to enhance the capabilities of your worksheet cenario apany acquired 100 percent of Suaro's outstanding stock for $1.450,000 cash on January 1, Suaro had the following balance sheet: Liabilities and Equity $1422000) $37,000 Liabilities 82,000 149,000 90,000 225,000 (350,000) (126,000) Common stock Retained earnings. 315,000 $1898 000 Total liabilities and equity.. $898,000 tion date, the fair values of each identifiable asset and liability that differed from book ows: $ 80,000 60,000 (indefinite ife-unrecognized on Suaro's books) (2-year estimated remaining useful life) 415,000 300,000 youe s she pakge h muitipie wockshee cagtis wokshoes uiherwie eh he Sur woksheos can esie in a sepe acea o ngle aaig e soluon, euch woeksboet should ak directly to the Bast woeksheo ceae uppiemenal scheduies o guhance the capubilities of your workshoet h eel thee Pruject Scenario Pecus Coimpany acquired 100 percens of Suagos outsanding soock for $1.4S0000 cash on lanuay 2017 when Suane had the following balance shees Assets Liabilities and Equity S422.000 Cash Receivabies $ 37.000 82.000 Liabilities 350.000 (126.000 Common stock Retained earnings Inventory 149.000 90,000 Land Equipment (net 225.000 315.000 Software $1898.000) Total labilities and equity $898.000 Total assets At the acquisition date, the fair values of each identifiable asset and liability that differed from book value were as follows $ 80,000 60,000 Land (indefinite life-unrecognized on Suaro's books) (2-year estimated remaining useful life) Brand name Software In-process R&D 415.000 300,000 Additional Information hanafite from Suaro's in-process research worksheet oty t your speeshees package has mahiple worksheet capahilites ce Escel you can h of the fr woksbeets can reside in a separate aa of a single In forwlating your solution, each worksheet should link directy to the iest warkshe feel free so create supplemental schodules to enhance the capahilities of your worksheet workshoes oherw Project Scenario Pecos Company acquired 100 percent of Suaro's outstanding stock for S1,450.000 cash on laaey 017, when Suaro had the following balance sheet Assets Liabilities and Equity Cash $ 37,000 82.000 149,000 Liabilities eceivables rventory and. ulpment (net) tware otal assets aso000 (126.000 Common stock Retained earnings 90,000 225.000 $(898,000 315,000 Total liabilities and equity $898,000 1 the acquisition date, the fair values of each identifiable asset and liability that differed from boc were as follows: (indefinite life-unrecognized on Suaro's books) (2-year estimated remaining useful life) $ 80,000 nd nd name 60,000 415,000 300,000 ware ocess R&D d Partial equity method consolidation w f your spreadsheet package has maltiple worksheet capabilities (e.g.. Excel), you can use separs worksheets; otherwise, each of the four worksheets can reside in a separate area of a single spreadben In formulating your solution, cach worksheet should link directly to the first workshen. Alsc feel free to create supplemental schedules to enhance the capabilities of your worksheet. Pecos Company acquired 100 percent of Suaro's outstanding stock for $1,450,000 cash on January 1. 2017, when Suaro had the following balance sheet: Project Scenario Liabilities and Equity Assets $/422.000 Liabilities $ 37,000 82,000 149,000 Cash Common stock Retained earnings. (350,000 (126,000 Receivables inventory Land. Equipment (net Software 90,000 225,000 315,000 Total liabilities and equity... $(898.000 $898,000 Total assets At the acquisition date, the fair values of each identifiable asset and liability that differed from book value were as follows $ 80,000 60,000 415,000 300,000 Land Brand name (indefinite life-unrecognized on Suaro's books) (2-year estimated remaining useful life) Software In-process R&D Additional Informaties link directly to the first worksheet. Als o create supplemental schedules to enhance the capabilities of your worksheet cenario apany acquired 100 percent of Suaro's outstanding stock for $1.450,000 cash on January 1, Suaro had the following balance sheet: Liabilities and Equity $1422000) $37,000 Liabilities 82,000 149,000 90,000 225,000 (350,000) (126,000) Common stock Retained earnings. 315,000 $1898 000 Total liabilities and equity.. $898,000 tion date, the fair values of each identifiable asset and liability that differed from book ows: $ 80,000 60,000 (indefinite ife-unrecognized on Suaro's books) (2-year estimated remaining useful life) 415,000 300,000