Pinarello Inc. buys 70% of Schwinn Inc. common stock on January 1, 2011 for $520,000 The fair value of Schwinn net assets equals the book values except for Inventory with a fair value $30,000 more than book value. Inventory costs are recorded on a FIFO basis

Equipment with a fair value $110,000 more than book value. Equipment has a remaining life of 10 years The noncontrolling interest in the fair value of net assets = $222,000

I NEED THE CALCULATION FOR THE RESULT OF TWO THE YELLOW BOX IN THE EXCEL. THANKS SO MUCH

ACC 4303 Fall 2016 Excel Spreadsheet Project 20 points possible to be included in your course point total E-mailed to Professoremailaddress@uhd.edu as an excel attachment Subject line MUST be: ACC 4303 excel project The subject line sends the project into a folder for me to grade I will only grade projects that go into this folder REQUIREMENTS: Create a December 31, 2011 three-part consolidation Excel spreadsheet workpaper based on the information given below Your spreadsheet should be similar to Figure 5-7 p 218 of our 9th ediion textbook For your consolidation workpaper Excel spreadsheet, you should 1 -- prepare necessary December 31, 2011 eliminating entries, separate from the worksheet include all necessary support work for your eliminating entry amounts Determine any goodwill or gain on acquisition and any identifiable net asset differentials related to the original acquisition of Schwinn common stock 2 -- determine the missing amounts from the given trial balances 3 -- create the appropriate columns and rows in the colsolidation workpaper 4 -- import trial balance data pulled from the given trial balances, do NOT copy numbers 5 -- create appopriate formulas for any numerical calculations do NOT copy totals from other sources 6 -- import the eliminating entry data into the worksheet, do NOT copy numbers with references to the eliminating entry from which the data was imported 7 -- create appropriate formulas for the balances in the consolidation column Assessment; 1/2 based on Excel skills & 1/2 on correct consolidation process with documentation you will be assessed on the following items: 1 -- correct data entered data and headings are accurate and located in the appropriate cells. data is entered correctly 2 -- formulas are correct and accessible autosum, appropriate use of parenthses, and other functions are correct all the formulas used are applied correctly 3 -- column headings and labels column headings are formatted in bold all the data is formatted correctly, including applying bold to the appropriate headings and labels 4 -- titles are merged and centered titles are merged, centered, underlined, and bold 5 -- spreadsheet formatting and printing correct print area and print features showing reveal formulas functions used column widths allow for complete viewing of the contents correct print area, gridlines, row & columns headings features INFORMATION: Pinarello Inc. buys 70% of Schwinn Inc. common stock on January 1, 2011 for $520,000 The fair value of Schwinn net assets equals the book values except for Inventory with a fair value $30,000 more than book value Inventory costs are recorded on a FIFO basis Equipment with a fair value $110,000 more than book value Equipment has a remaining life of 10 years The noncontrolling interest in the fair value of net assets = $222,000 Account Cash Accounts Receivable Inventory Land Buildings & Equipment Accumulated Depreciation Investment in Schwinn Stock Accounts Payable Bonds Payable Common Stock Retained Earnings Dividends Declared & Paid Sales Income from Schwinn Cost of Goods Sold Depreciation Expense Other Expenses Totals Trial Balances 31-Dec-11 all numbers in 000's Pinarello Inc. Debit Credit 188 196 286 322 1,400 560 Schwinn Inc. Debit Credit 120 100 150 120 1,200 640 310 600 1,000 288 120 280 420 180 160 20 800 390 70 40 3,052 3,558 for you to determine! 400 282 38 10 2,040 2,040