Power Corporation acquired 75 percent of Best Companys ownership on January 1, 20X8, for $93,000. At that date, the fair value of the noncontrolling interest was $31,000. The book value of Bests net assets at acquisition was $90,000. The book values and fair values of Bests assets and liabilities were equal, except for Bests buildings and equipment, which were worth $18,000 more than book value. Accumulated depreciation on the buildings and equipment was $24,000 on the acquisition date.Buildings and equipment are depreciated on a 10-year basis.

Although goodwill is not amortized, the management of Power concluded at December 31, 20X8, that goodwill from its purchase of Best shares had been impaired and the correct carrying amount was $2,800. Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders.

Trial balance data for Power and Best on December 31, 20X8, are as follows:

	Power Corporation				Best Company
Item	Debit		Credit		Debit		Credit
Cash	$	49,500			$	26,000
Accounts Receivable		72,000				17,000
Inventory		92,000				30,000
Land		47,000				20,000
Buildings and Equipment		360,000				164,000
Investment in Best Co. Stock		104,400
Cost of Goods Sold		118,000				103,000
Wage Expense		42,000				23,000
Depreciation Expense		23,000				8,000
Interest Expense		10,000				2,000
Other Expenses		11,500				3,000
Dividends Declared		39,000				16,800
Accumulated Depreciation			$	144,000			$	32,000
Accounts Payable				43,000				11,000
Wages Payable				12,000				7,000
Notes Payable				201,400				86,800
Common Stock				189,000				66,000
Retained Earnings				91,000				24,000
Sales				264,000				186,000
Income from Subsidiary				24,000
	$	968,400	$	968,400	$	412,800	$	412,800

Record the amortized excess value reclassification entry.

Depreciation Expense 1800

Goodwill Impairment Loss XX

Income from Best Company XX

NCI in NI of Best Co. XX