Question 1 Noccomplete Marked out of 23.00 Flag ouestion Date of Acquisition Consolidation Eliminating Entries Pennant Corporation acquired 90 percent of Saylor Company's common stock for $16,000,000 in cash on January 2, 2013. At that date, Saylor's $9,600,000 of reported net assets were fairly stated, except land was undervalued by $800,000 and unrecorded developed technology was valued at $1,600,000. The estimated fair value of the noncontrolling interest is $3,200,000 at the acquisition date, (a) Calculate total goodwill and its allocation to the controlling and noncontrolling interests. Enter answers using all zeros (do not abbreviate to in thousands or in millions). Allocation of goodwill between controlling and noncontrolling interest: Total goodwill Pennant's gondol Goodwill to non controling interest (b) Prepare the working paper eliminating entries needed to consolidate Pennant and Saylor on January 2, 2013 Enter answers using all zeros (do not abbreviate to in thousands or in millions). Consolidationjournal Description Debit Credit El Nancontrolling interest in Saylor Develogd technology Goadell Nancontrolling interes in Saylor Check E Save Answers Next >