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plz help me with this question from the attachment Please do this exercise in an Excel sheet. Please follow the format of the Power Point
plz help me with this question from the attachment
Please do this exercise in an Excel sheet. Please follow the format of the Power Point slides of Chapter 4 to do this exercise. There are two pages in this document. On January 1, 2015, Pledge Corporation purchased 90% of the outstanding common stock of Strom Corporation for $90,000. At that time, Strom's stockholders' equity consisted of common stock, $60,000; other contributed capital, $10,000; and retained earnings, $12,500. Assume that any difference between book value of equity and the value implied by the purchase price is Goodwill. On December 31, 2015, the two companies' trial balances were as follows: Cash Accounts Receivable Inventory Investment in Sid Corporation Plant and Equipment Land Dividends Declared Cost of Goods Sold Operating Expenses Total Debits Accounts Payable Other Liabilities Common Stock, par value $10 Other Contributed Capital Retained Earnings, 1/1 Sales Equity in subsidiary Income Total Credits Required: $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Pledge Ltd 32,500.00 20,000.00 12,500.00 92,250.00 55,000.00 24,250.00 10,000.00 75,000.00 17,500.00 339,000.00 10,000.00 7,500.00 100,000.00 35,000.00 27,500.00 150,000.00 9,000.00 339,000.00 $ $ $ Strom Ltd 17,500.00 15,000.00 7,500.00 $ $ $ $ $ $ $ $ $ $ $ $ 42,500.00 22,500.00 7,500.00 30,000.00 7,500.00 150,000.00 7,500.00 12,500.00 60,000.00 10,000.00 12,500.00 47,500.00 $ 150,000.00 A. Prepare a consolidated statements work paper on December 31, 2015. Note:* Accounts payable of Pledge Ltd includes $5,000 payable to Strom Ltd. Turn over to next page for part B Page 1 of 2 B. Prepare a consolidated statements work paper on December 31, 2016, assuming trial balances for Pledge and Strom on that date were: Cash Accounts Receivable Inventory Investment in Strom Corporation Plant and Equipment Land Dividends Declared Cost of Goods Sold Operating Expenses Total Debits Accounts Payable Other Liabilities Common Stock, par value $10 Other Contributed Capital Retained Earnings, 1/1 Sales Equity in Subsidiary Income Total Credits $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Pledge Ltd 35,000.00 30,000.00 20,000.00 96,750.00 62,500.00 24,250.00 10,000.00 80,000.00 17,500.00 376,000.00 8,250.00 7,500.00 100,000.00 35,000.00 84,000.00 130,000.00 11,250.00 376,000.00 $ $ $ Strom Ltd 10,000.00 17,500.00 15,000.00 $ $ $ $ $ $ $ $ $ $ $ $ 45,000.00 22,500.00 7,500.00 32,500.00 10,000.00 160,000.00 8,000.00 12,000.00 60,000.00 10,000.00 15,000.00 55,000.00 $ 160,000.00 Note: Accounts receivable of Strom Ltd includes $ 2,500 due to Pledge ltd. Page 2 of 2Step by Step Solution
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