Please help answer these following questions!
Andrea Co. acquired 70% of Calabrese Co. on January 1, 2016. At the date of acquisition, the excess acquisition price was allocated partly to undervalued building of $108,000 (6-year remaining life) and undervalued capitalized software of $860,000 (20-year remaining life). The remaining excess was allocated to goodwill of $130,000. Various lntra-Entity Transactions Were Recorded by the Related Companies: On February 13, 2018, Andrea Co. sold land to Calabrese Co. for $1,200,000 cash. The land had been acquired by Andrea Co. in 1987 for $380,000. On March 1, 2020, Calabrese Co. sold the land to unaffiliated buyers for $1,320,000. On January 1, 2019, Andrea sold equipment to Calabrese Co. for $140,000. The equipment had been acquired by Andrea in 2015 at a cost of $120,000 and had a remaining book value of $100,000 at the date of transfer. The equipment had a remaining useful life of 10 years. In 2018 through 2020, Andrea transferred finished goods to Calabrese Co. Note: Round all gross prot rates to the nearest 100'\". Period Cost Transfer Price Unsold Goods at Year-end*. 2018 $ 50,000 $ 70,000 $ 12,000 2019 $ 60,000 $ 100,000 $ 30,000 2020 $ 90,000 $ 120,000 $ 50,000 *The ending inventories are at transfer price. Questions 16 through 20 involves Worksheet Entries for 2020: 16. Consolidation Worksheet Entry A would require a: A. Debit Capitalized Software, $651,000. B. Credit Non-controlling Interest, $237,900. C. Credit Investment in Calabrese Co., $597,800. D. Debit Building, $18,000. 17. In 2020, if Calabrese Co. earned income of $220,000, and declared and paid dividends of $60,000, Consolidation Worksheet Entry I would require a: A. Debit Investment in Calabrese Co., $112,000. B. Debit Equity in Sub Earnings, $111,300. C. Credit to Equity in Sub Earnings, $154,000. D. Credit to Investment in Calabrese Co., $112,000. Question 18 requires use of Exhibit 3 below for 2020: Exhibit 3: Worksheet for Balance Sheet (partial) (2020) _-_m__ ___-__ m-- _I--_-__ 18. Using data in Exhibit 3 above, given the inter-entity transactions, what would be the consolidated balances for Buildings and Capitalized Software, respectively, at the balance sheet date? A. $1,270,000; $1,223,000. B. $1,270,000; $1,180,000. C. $1,316,000; 1,440,000. D. $1,288,000; $1,223,000. 19. The unsold nished goods at 12f3 1f 19 were sold in 2020. Consolidation Worksheet Entry *0 at December 31, 2020 would require a: A. Credit to Cost of Goods Sold, $8,400. B. Debit to Retained Earnings (Seller), $12,000. C. Credit to Investment in Calabrese Co., $12,000. D. Debit to Cost of Goods Sold, $30,000. 20. During 2020, assume that Andrea sold the nished goods to Calabrese on account. The journal entry to record the transfer would require a: A. Credit Cost of Goods Sold, $120,000, on the seller's books. B. Debit Inventory, $90,000, on the buyer's books. C. Credit Cash, $120,000, on the buyer's books. D. Debit Due from Subsidiary, $120,000, on the seller's books. 21. Consolidation Worksheet Entry Tl at the end of 2020 would require a: A. Debit to Land-P, $920,000. B. Credit to Gain on Sale, $540,000. C. Credit to Cost ofGoods Sold, $120,000. D. Debit to Sales, $90,000. 22. Consolidation Worksheet Entry G at the end of 2020 would require a: A. Credit to Sales, $120,000. B. Credit to Inventory, $12,000. C. Debit to Cost of Goods Sold, $12,500. D. Debit to Inventory, $12,500. Question 23 requires use of Exhibit 4 below for 2020: Exhibit 4: Worksheet for Income Statement (partial) (2020) nlmn ______ ______ ______ 23. Using data in Exhibit 4 above, given the inter-entity transactions, what would be the consolidated balance of Cost of Goods Sold at the end of 2020'? A. $726,500. B. $738,500. C. $846,500. D. $858,500. 24. In 2020, Consolidation Worksheet Entry *TA would require a: A. Credit to Equipment, $16,000. B. Debit to Gain on Sale, $40,000. C. Credit to Accumulated Depreciation, $60,000. D. Debit to Equipment, $20,000. Question 25 requires use of Exhibit 5 below for 2020: Exhibit 5: Worksheet for Income Statement (partial) (2020) m _____ I-______ 25. Using data in Exhibit 5 above, given the inter-entity transactions, what would be the consolidated balance of Depreciation Expense at the end of 2020? A. $80,000. B. $72,000. C. $84,000. D. $76,000. Questions 26 through 28 requires use of Exhibit 6 below for 2020: Exhibit 6: Worksheet for Balance Sheet (partial) (2020) m _____ M___ _-I-l-]___ 26. Using data in Exhibit 6 above, given the inter-entity transactions, what would be the consolidated balance of Equipment at the end of 2020? A. $756,000. B. $740,000. C. $780,000. D. $778,000. 27. Using data in Exhibit 6 above, given the inter-entity transactions, what would be the consolidated balance of Accumulated Depreciation at the end of 2020? A. $294,000. B. $286,000. C. $242,000. D. $238,000. 28. Using data in Exhibit 6 above, given the inter-entity transactions, what would be the consolidated book value of the equipment at the end of 2020? A. $542,000. B. $543,000. 0. $560,000. D. $540,000. Question 29 requires use of Exhibit 7 below for 2020: Exhibit 7: Worksheet for Balance Sheet (partial) (2020) Balance Sheet (selected -lm- Consolidated __-__ Remember: The subsidiary sold the land in 2020 to unrelated buyers. 29. Using data in Exhibit '7 above, given the inter-entity transactions, what would be the consolidated balance of Land at the end of 2020? A. $3,666,000. B. $2,346,000. c. $2,342,000. D. $1,980,000. 30. Assuming the land is the only property disposition in the consolidated group for 2020, how much gain should be reported on the consolidated balance sheet at the end of the year? A. $0. B. $120,000. c. $820,000. D. $940,000