Powder Company spent $$240,000$ to acquire all of Sawmill Corporation's stock on January $1,20$X$2.$ On December $31,20$X$4,$ the trial

balances of the two companies were as follows:

and underlying book value is assigned to buildings of $$100,000$ at the date of acquisition. The difference between the acquisition price

acquisition. Sawmill's accumulated depreciation and equipment with a remaining economic life of $10$ years from the date of

$$2,500.$

Required:

a$.$ Prepare the following journal entries recorded by Powder with regard to its investment in Sawmill during $20$X$4.$

b$.$ Prepare all consolidation entries required on December $31,20\backslash$times $4,$ to prepare consolidated financial statements.

c$.$ Prepare a three$-$part consolidation worksheet as of December $31,20$X$4.$

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