Prat Corpany acquired all of Spider, Inc.'s outstanding shares on December 31, 2018, for $482.500 cash. Pran wil operate Spider as a wholly owned subsidiary marie bende Arough many of Spider's book values approximate tair values, several of its accounts have fair values that differ from book values. In addition, Spider has internally developed is books In deriving the acquisition price, Pratt assessed Spider's fair and book value differences as follows: Book Va Fair Values Equipment 70.500 53,100 Contracts 0 100 500 Nolos payable (73,000) (78,350) Al December 31, 2018, the following acquisition date balance sheet for Spider Co. Cash Receivables Inventory Software Buldings (net) Equpment (net) Total assets Accounts payable Noles payable Common stock Additional paid in capital Retained earnings Total liabilities and equities 28,500 53 000 75,000 38,500 154.000 70.500 419,500 (71,500) (73,000) (100,000) (25.000) (150,000) (419,500) Required answer the following for the acquisition: (item A) What S (amount) is Spider's Fair Value of Net Assets, fiter B) What S (amount) is the Spider's Book Value of Net Assets, (item c) What S (amount) is the Goodwill created from the transaction? (Eo Answer Format: Item A: Insert S amount here) For the toolbar, press ALT+F10 (PC) or ALT FN F10 (Mac). TT T Aral 3 (12) T QUESTION 12 On January 1, 2021. Corzine Inc. acquired 15% of Hammon Co's outstanding common stock for 562.400 and did not exercise significant influence. Hammon camed net incare of 396.000 in 2021 and paid dividends of $36,000. The fair value of Corzine's investment was $80,000 at December 31, 2021. All companies involved have a December 3110 REQUIRMENT: Prepare all of Cozine's 2021 journal entries to apply the appropriate method to this investment Format of answer in a professional accounting format requiring (1) Description Date (2) Respective DR for DEBIT CR and CREDIT in front of ACCOUNT.(3) use the proper account name used in this course/textbook. 14 places dollar amount Example: 12/31/2000 Recognize Pension Expense DR Pension Expense 1.000 CR. Pension ability 1,000 Prat Corpany acquired all of Spider, Inc.'s outstanding shares on December 31, 2018, for $482.500 cash. Pran wil operate Spider as a wholly owned subsidiary marie bende Arough many of Spider's book values approximate tair values, several of its accounts have fair values that differ from book values. In addition, Spider has internally developed is books In deriving the acquisition price, Pratt assessed Spider's fair and book value differences as follows: Book Va Fair Values Equipment 70.500 53,100 Contracts 0 100 500 Nolos payable (73,000) (78,350) Al December 31, 2018, the following acquisition date balance sheet for Spider Co. Cash Receivables Inventory Software Buldings (net) Equpment (net) Total assets Accounts payable Noles payable Common stock Additional paid in capital Retained earnings Total liabilities and equities 28,500 53 000 75,000 38,500 154.000 70.500 419,500 (71,500) (73,000) (100,000) (25.000) (150,000) (419,500) Required answer the following for the acquisition: (item A) What S (amount) is Spider's Fair Value of Net Assets, fiter B) What S (amount) is the Spider's Book Value of Net Assets, (item c) What S (amount) is the Goodwill created from the transaction? (Eo Answer Format: Item A: Insert S amount here) For the toolbar, press ALT+F10 (PC) or ALT FN F10 (Mac). TT T Aral 3 (12) T QUESTION 12 On January 1, 2021. Corzine Inc. acquired 15% of Hammon Co's outstanding common stock for 562.400 and did not exercise significant influence. Hammon camed net incare of 396.000 in 2021 and paid dividends of $36,000. The fair value of Corzine's investment was $80,000 at December 31, 2021. All companies involved have a December 3110 REQUIRMENT: Prepare all of Cozine's 2021 journal entries to apply the appropriate method to this investment Format of answer in a professional accounting format requiring (1) Description Date (2) Respective DR for DEBIT CR and CREDIT in front of ACCOUNT.(3) use the proper account name used in this course/textbook. 14 places dollar amount Example: 12/31/2000 Recognize Pension Expense DR Pension Expense 1.000 CR. Pension ability 1,000