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please fill everything out correctly Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for

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Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for $968,400 cash. At the acquisition date, Stanford's total fair value, including the noncontrolling interest, was assessed at $1,210,500. Also at the acquisition date, Stanford's book value was $578,750. Several individual items on Stanford's financial records had fair values that differed from their book values as follows: Book Value $ 321,200 Fair Value $ 354,900 Tradenames (indefinite life) Property and equipment (net, 8-year remaining life) Patent (14-year remaining life) 239,000 120,400 255,200 161,000 For internal reporting purposes, Plaza, Inc., employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2018, for both companies. Plaza Stanford Revenues $ (828,200) $ (746,500) Cost of goods sold 458,700 321,700 Depreciation expense 194,400 29,875 Amortization expenso 23,000 Equity in income of Stanford (293,600) Net income $ (468, 700) $ (371,925) 0 $ Plaza (828, 200) 458,700 194,400 Revenues Cost of goods sold Depreciation expense Amortization expense Equity in income of Stanford Net income Stanford $ (746,500) 321,700 29,875 23,000 0 $ (371,925) (293,600) (468, 700) $ $ Retained earnings, 1/1/18 Net income Dividends declared Retained earnings, 12/31/18 $(1,036,200) (468,700) 243,800 $(1,261,100) (431,000) (371,925) 20,250 (782,675) $ Current assets Investment in Stanford Tradenames Property and equipment (net) Patents $ 698,800 1,245,800 195,300 837,900 0 $ 2,977,800 $ 374,700 0 321,200 209,125 97,400 $ 1,002,425 Total assets Accounts payable Common stock Additional paid-in capital Retained earnings (above) Total liabilities and equities $ (115, 200) (244,800) (1,356,700) (1,261,100) $ (2,977, 800) $ (72,000) (72,000) (75,750) (782,675) $(1,002,425) Accounts Revenues Cost of goods sold Depreciation expense Amortization expense Equity in income of Stanford Net Income Consolidated net income NCI share of CNI Plaza share of CNI Retained earnings, 1/1 Net income Dividends declared PLAZA CORPORATION AND STANFORD CORPORATION Consolidation Worksheet For Year Ending December 31, 2018 Consolidation Entries Noncontrolling Consolidated Plaza Debit Credit Interest Totals Stanford $ (828,200) $ (746,500) 149,300 $ (1.425,400) 458,700 321,700 (64,340) 780,400 194,400 29,875 2,025 (6,380) (6,380) 0 23,000 2,900 (5,180) (5,180) (293,600) 0 16,200 0 0 $ (468,700) $ (371,925) $ (656,560) $ (656,560) $ (1,036,200) (468,700) 243,800 $ (431,000) (371,925) 20.250 (20,250) Tu Net income Dividends declared (20,250) X s 0 Retained earnings, 12/31 (1,036,200) (468,700) 243,800 Is ((1,261,100) $ 698,800 1,245,800 195,300 (371,925) 20,250 S (782,675) $ 374,700 0 321,200 (1.245,800) 33,700 >> 837,900 209,125 16,200 > (2,025) (2,900) 0 97,400 40,600 710,400 Current assets Investment in Stanford Tradenames Property and equipment (net) Patents Goodwill Total assets Accounts payable Common stock Additional paid-in capital Noncontrolling interest Retained earnings, 12/31 Total liabilities and equities 0 $ 2,977,800 (115,200) (244,800) (1,356,700) $ 1,002,425 (72,000) (72,000) (75,750) 72,000 75,750 (199,960) (1,261,100) S (2,977,800) (782,675) IS (1,002,425) 502,035 X $ 1.471,810 $ (1,470,935) (1,541,740) $ (1,541,740)

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