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Please help meOn December 3 1 , Year 5 , Darrell Inc. purchased 1 0 0 % of the outstanding shares of Kindersley Company for
Please help meOn December Year Darrell Inc. purchased of the outstanding shares of Kindersley Company for $ cash. Three
different values for Kindersley's balance sheet accounts on the date of acquisition were as follows:
All differences between carrying amount and the tax base are temporary differences for the items listed above. The patent has an
estimated useful life of years. Any goodwill reported on the consolidated balance sheet pertains only to Kindersley and is redundant
for tax purposes. A goodwill impairment loss of $ was reported in Year
The tax rate for both companies is Assume that future income taxable payable on the separate entity financial statements of the
parent and subsidiary are as follows:
Required:
a Calculate goodwill and future income taxes payable for the consolidated balance sheet at the date of acquisition. Omit $ sign in
your response.
b Prepare a changes to acquisition schedule for Years through Leave no cells blank be certain to enter wherever
required. NegativeDeductible amounts should be indicated by a minus sign. Omit $ sign in your response.
c Calculate goodwill and future income taxes payable for the consolidated balance sheet for Year Omit $ sign in your response.
Future income taxes payable $
Goodwill $
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