Projecting Consolidation Eliminating Entries An acquisition takes place on January 1, 2018. At December 31, 2018, you observe the following consolidation eliminating entries: (R) Identifiable intangibles 3.000.000 Land 2.000.000 Goodwill 15.000.000 Inventories 500.000 Property and equipment net 10.000.000 Investment in Samson Company 9.500.000 (O) Amortization expense 600,000 Impairment loss 200.000 Inventories 500,000 Property and equipment net 1.000.000 Cost of goods sold Depreciation expense Identifiable intangibles Goodwill 500.000 1.000.000 600.000 200.000 Property and equipment and identifiable intangibles revaluations are written off on a straight-line basis, no residual value. Additional goodwill impairment losses of $400,000 are reported in 2021. Except for the inventories, none of the revalued assets are sold in future years. Required Prepare consolidation eliminating entries (R) and (0) on a. December 31, 2020 Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). a. December 31, 2020 Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). Ref. Description Debit Credit (R) Land 2000000 14400000 Property and equipment.net 5000000 Identifiable intangibles Investment in Samson 11400000 (0) No entry . b. December 31, 2023. Not all journal entry rows may be needed. Select "No entry" as your answer if additional debit or credit entries are not required and leave the corresponding numerical answer blank (zero) Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). Description Debit Credit Ref. (R) Land Goodwill . . Investment in Samson (0) 0 0 c. December 31, 2028. Not all journal entry rows may be needed. Select "No entry" as your answer if additional debit or credit entries are not required and leave the corresponding numerical answer blank (zero). Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). Credit Description Debit Ref. (R) Land Investment in Samson (0) Projecting Consolidation Eliminating Entries An acquisition takes place on January 1, 2018. At December 31, 2018, you observe the following consolidation eliminating entries: (R) Identifiable intangibles 3.000.000 Land 2.000.000 Goodwill 15.000.000 Inventories 500.000 Property and equipment net 10.000.000 Investment in Samson Company 9.500.000 (O) Amortization expense 600,000 Impairment loss 200.000 Inventories 500,000 Property and equipment net 1.000.000 Cost of goods sold Depreciation expense Identifiable intangibles Goodwill 500.000 1.000.000 600.000 200.000 Property and equipment and identifiable intangibles revaluations are written off on a straight-line basis, no residual value. Additional goodwill impairment losses of $400,000 are reported in 2021. Except for the inventories, none of the revalued assets are sold in future years. Required Prepare consolidation eliminating entries (R) and (0) on a. December 31, 2020 Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). a. December 31, 2020 Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). Ref. Description Debit Credit (R) Land 2000000 14400000 Property and equipment.net 5000000 Identifiable intangibles Investment in Samson 11400000 (0) No entry . b. December 31, 2023. Not all journal entry rows may be needed. Select "No entry" as your answer if additional debit or credit entries are not required and leave the corresponding numerical answer blank (zero) Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). Description Debit Credit Ref. (R) Land Goodwill . . Investment in Samson (0) 0 0 c. December 31, 2028. Not all journal entry rows may be needed. Select "No entry" as your answer if additional debit or credit entries are not required and leave the corresponding numerical answer blank (zero). Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). Enter numerical answers using all zeros (do not abbreviate figures to thousands or millions). Credit Description Debit Ref. (R) Land Investment in Samson (0)