Pork Corporation acquired all the voting shares of Swine Enterprises on January 1, 20X4. Balance sheet amou the date of acquisition were as follows: Cash & Receivables Inventory Land Buildings & Equipment Investment in Swine Enterprises Total Debits Pork Corporation $ 54,000 97,000 85,000 417,000 305,000 $958,000 Swine Enterprises $ 34,000 54,000 95,000 238,000 $421,000 Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Total Credits $174,000 49,000 98,000 296,000 341,000 $958,000 $ 58,000 11,000 106,000 98,000 148,000 $421,000 Swine Enterprises' buildings and equipment were estimated to have a market value of $190,000 on January 1, appeared to have market values approximating current book values. Prev 1 of 4 Next > Consolidation Entries Pork Corp. Swine Enterprises DR CR Consolidated Assets $ $ 88,000 34,000 54,000 95,000 Cash & receivables Inventory Land Buildings & equipment Less: Accumulated depreciation Investment in Swine Enterprises Goodwill 54,000 $ 97,000 85,000 417,000 (174,000) 305,000 151,000 180,000 597,000 (174,000) 238,000 58,000 (58,000) 58,000 305,000 0 Total Assets $ 784,000 $ 363,000 $ 58,000 $ 363,000 $ 842,000 Liabilities & Stockholders' Equity Accounts payable Notes payable Common stock Retained earnings Total Liabilities & Equity $ 0 $ 0 $ 0 $ 0 $ 0 e c 99% PORK CORPORATION AND SUBSIDIARY Consolidated Balance Sheet January 1, 20X4 Assets Cash & receivables Inventory Land Buildings & equipment Less: Accumulated depreciation 0 Goodwill Total Assets $ 0 Liabilities & Stockholders' Equity Accounts payable Notes payable Common stock Retained earnings Total Liabilities & Stockholders' Equity 0 $ 0