Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20X8, for $93,000. At that date, the fair value of the noncontrolling interest was $31,000. The book value of Slice's net assets at acquisition was $91,000. The book values and fair values of Slice's assets and liabilities were equal, except for Slice's buildings and equipment, which were worth $18,200 more than book value. Accumulated depreciation on the buildings and equipment was $24,000 on the acquisition date. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, the management of Pie concluded at December 31, 20X8, that goodwill from its purchase of Slice shares had been impaired and the correct carrying amount was $3,500. Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders. Trial balance data for Pie and Slice on December 31, 20X8, are as follows: Debit slice Company Credit $ 22,000 13,000 26,000 16,000 169,000 Item Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in Slice Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from Slice Company Pie Corporation Debit Credit $ 50,500 76,000 96,000 46,000 370,000 102,510 121,000 36,000 23,000 10,000 11,500 38,000 $133,000 41,000 11,000 235,850 183,000 106,000 25,000 8,000 2,000 3,000 16,200 $ 32,000 10,000 6,000 81,200 54,000 37,000 186,000 85,000 270,000 21,660 $980,510 $980,510 $ 406, 200 $406, 200 Required: a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries Record the basic consolidation entry. Note: Enter debits before credits. Required: a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries Record the amortized excess value reclassification entry. Metano Required: a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries Record the excess value (differential) reclassification entry. Note: Enter debits before credits. a. Record all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X8. (If required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list Consolidation Worksheet Entries
