Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20x8, for 396,000, At that date, the fal value of the noncontrolling linterest was $32.000. The book value of 5 lice $ net assets at acoulsition was $992000 The book values and fair values of Slice's assets and liabities were equal, except for Sliceis buaksings and equipment. which were worth $1,400 more than book vaiue. Accumulated deprecintion on the buildings and equipment wht $27,000 on the acquisition date. Buldings and equipment ace depreciated on a 10 -year busis, Although goodwill is not amortized, the management of Ple concluded at December 31, 20x8, that goccwill from its purchase of Slice shares had been impaired and the correct carfying amount was 53.200 . Goodwill and goodwil impairment were assigned proportionately to the controlling and nonconiroling shareholdors. Trial balance data for Pie and sice on December 31,208, are as follows: Required: a. Pecord all consolidation cntries needed to prepare a three-part consallation worksheet as of December 31 . 208. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries Record the amortized excess value reclassification entry. Note: Enter debits before credits. b. Prepare a three-part consolidation worksheet for 208. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting 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. Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20x8, for 396,000, At that date, the fal value of the noncontrolling linterest was $32.000. The book value of 5 lice $ net assets at acoulsition was $992000 The book values and fair values of Slice's assets and liabities were equal, except for Sliceis buaksings and equipment. which were worth $1,400 more than book vaiue. Accumulated deprecintion on the buildings and equipment wht $27,000 on the acquisition date. Buldings and equipment ace depreciated on a 10 -year busis, Although goodwill is not amortized, the management of Ple concluded at December 31, 20x8, that goccwill from its purchase of Slice shares had been impaired and the correct carfying amount was 53.200 . Goodwill and goodwil impairment were assigned proportionately to the controlling and nonconiroling shareholdors. Trial balance data for Pie and sice on December 31,208, are as follows: Required: a. Pecord all consolidation cntries needed to prepare a three-part consallation worksheet as of December 31 . 208. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries Record the amortized excess value reclassification entry. Note: Enter debits before credits. b. Prepare a three-part consolidation worksheet for 208. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting 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
