stuck on the intercompany deferral section of the spreadsheet thanks for your help!

525.000 in casa burces of the two Receivable Wed on March 10 , or in Crandel 200 fred Depreciatic uipmen 200.000 253 ble ..... Bonds able ........ Throughout 2015. sales ro Plate Corporation made up 30 % of Solos revende * 2 proti rane Ar year - end . Plato Corpora . None of the Solo CES were chased from Solo 5 boginning inventory sheet of Plato Corporation and its subsidiary e consolidated income statem and balat Seles ... come ( fron Dividends Sold .. Benton Corporation purchased 80 % of the outstanding stock of Cra for $ 425,000 . A condensed balance sheet of Crandel Company at the purcha IC I Show All book values approximated fair values on the purchase date . Any excess cost was attribu The following information was gathered pertaining to the first two years of operation since 750 had sold $ 250,000 of the sot for the year ended December 31:15 . Include Corporation and its sul ad sche Com (ner) Ploro Corporation 4,000,000 3.510,000 135,000 1.000.000 1.500.000 AYS cours C310 por of Pow mary, 2015 Cercle (12.000.000 7.000.000 4,000,000 (210,000 ng and Goodwill ($0.50 her Subsidiary Total Common Stock ( Common Stock ($1 par Puid-In Capital in Exces Retained Earnings, Apr and still owed Solo Paros January 1, 2015 Prepare the worksheet necessary to determination and distribution of excess schedule. Problem 4-2 20 2 80%, cost, beginning and ending inventory. O Required Cast of Ocher Expenses...... Dividends Declared. ched pril 1, 2015 Totals below. Liabilities and Eq Assets $180,000 Liabilities 320,000 the worksheet and a determination an 2. Prepare the formal con Current assets long-lived assets (net) ..... Common stock. ............ Paid in capital in excess of par Retained earnings .......... Total liabilities and equity ........ $100,000 200.000 100,000 100.000 $500,000 $500,000 Total assets. ...... Use the following ir On January 1, 2015, Corporation for $400 ted to goodwill Benton's purchase of Crandel Company stock: 2. Intercompany merchandise sales were summarized as follows: As Date Merchandise Remaining in Purchaser's Ending Inventory Gross Profit Accounts receivable Inventory Land..... April 1, 2015 to March 31, 2016 Transaction Benton to Crandel Crandel to Benton Benton to Crandel Crandel to Benton Sales $40,000 20,000 32,000 30,000 20% 25 $9,000 4,000 20 25 6,000 3,000 Buildings... Accumulated deprec Equipment... Accumulated deprec Total assets April 1, 2016 to March 31, 2017 b. On March 31, 2017, Benton owed Crandel $10,000, and Crandel owed Benton $5,000 as a result of the intercompany sales. Buildings, w which has a sayo Use the following information for Problems 4-3 and 4-4: Chapter INTERCOMPANY TRANSACTION MURCHANTUN PAN Asmo Serra c Benton paid $25.000 in cash dividends on March 20, 2016 and 2017. Cuande pand its cash dividend on March 10, 2017. giving each share of outstanding common stock: 0.5 d. The trial balances of the two companies as of March 31, 2017, follow cash dividend. 155 S. ASS Benton Crondel Corporation 191.200 44,300 290,000 97,000 310,000 80,000 Company 450.000 1081,000 150,000 850,000 400.000 1940,000 210,000 60,000 242,200 1106,3001 400,000) (250,000 duced Cash Accounts Receivable (net) Inventory ...... Investment in Crandel Company Land ....... Building and Equipment Accumulated Depreciation Goodwill. Accounts Payable Bonds Payable. Common Stock ($0.50 par). Common Stock ($1 par) Paid-In Capital in Excess of Par. Retained Earnings, April 1, 2016. Sales. Dividend Income (from Crandel Company) Cost of Goods Sold Other Expenses. Dividends Declared Totals As pur- alance clude 1200,000) 11,250,000 $100,000) 11,105,000) (140,000) (880,000) 1630,000) 124,000) 704,000 504,000 130,000 81,000 25,000 30,000 0 0 2015 Dan 700 1. Prepare the worksheet necessary to produce the consolidated financial statements of Benton ** Corporation and its subsidiary for the year ended March 31, 2017. Include the value analysis and a determination and distribution of excess schedule and the income distribution schedules. 2. Prepare the formal consolidated income statement for the fiscal year ending March 31, 2017. DO On Januan 1 2011 Access Web From Other Text Sources Get External Data Existing Connections New Query De Recent Sources Get & Transform Refresh Properties All Edit Links 2 Sort Filter Connections B31 Sort & Filter B C D E A 1 Problem 4-2 2 3 F G Company Implied Fair Value 562,500 NCI Parent Price Value 450,000 112,500 4 Value Analysis 5 Price Paid Fair Value of Net Assets 6 Excluding Goodwill 7 Goodwill 8 Gain on Acquisition 9 Determination and Distribution 10 of Excess Schedule 400,000 162,500 320,000 130,000 80,000 32,500 Company Value Partnt Price NCI 562,500 450,000 112,500 11 12 Fair Value of Subsidiary Less Book Value of Interest 13 Acquired 14 Common Stock 15 Paid in Excess 16 Retained Earnings 17 Total Equity 18 Interest Acquired 19 Book Value 20 Excess of Cost over Book Value 200,000 100,000 100,000 400,000 400,000 100% 80% 400,000 320,000 162,500 Worksheet Distribution 162,500 130,000 400,000 20% 80,000 21 Accounts Adjusted 22 Goodwill 23 32,500 24 25 Total 26 162,500 27 28 Intercompany Inventory Profit Deferral 29 Parent 30 Amount 31 Beginning 32 Ending 33 Sheet2 + Parent Parent Profit Sub Amount Sub % Sub Profit Sheet1 Enter where la Corporation and the determination and distribution of excess schedu Benton Corporation purchased 80% of the outstanding Liabilities and be Problem 4-2 10 80%, cost, beginning and ending inventory.1.2015 2000 condensed balance sheet of randel Company at the purchash The following information was gathered pertaining to the first two years of operation since equired Total assets ted to . $180,000 320,000 Long lived sent Liabilities Common stock Paid in capital in excess of par Retained earnings Total liabilities and equity $100,00 200.000 100.000 10005 $500,000 $500,000 Alhoewalues approximated fair values on the purchase date . Any excess cost was atribus Benton's purchase of Crandel Company stock: .. Intercompany merchandise sales were summarized as follows: Merchandise Remaining in Purchaser's Ending Inventory $9,000 4,000 Date Transaction Sales Gross Profit 20% 25 B April 1, 2015 to March 31, 2016 April 1, 2016 to March 31, 2017 Benton to Crandel Crandel to Benton Benton to Crandel Crandel to Benton $40,000 20,000 32,000 30,000 E 20 25 6,000 3,000 b. On March 31, 2017, Benton owed Crandel $10,000, and Crandel owed Benton $5,000 as a result of the intercompany sales. 525.000 in casa burces of the two Receivable Wed on March 10 , or in Crandel 200 fred Depreciatic uipmen 200.000 253 ble ..... Bonds able ........ Throughout 2015. sales ro Plate Corporation made up 30 % of Solos revende * 2 proti rane Ar year - end . Plato Corpora . None of the Solo CES were chased from Solo 5 boginning inventory sheet of Plato Corporation and its subsidiary e consolidated income statem and balat Seles ... come ( fron Dividends Sold .. Benton Corporation purchased 80 % of the outstanding stock of Cra for $ 425,000 . A condensed balance sheet of Crandel Company at the purcha IC I Show All book values approximated fair values on the purchase date . Any excess cost was attribu The following information was gathered pertaining to the first two years of operation since 750 had sold $ 250,000 of the sot for the year ended December 31:15 . Include Corporation and its sul ad sche Com (ner) Ploro Corporation 4,000,000 3.510,000 135,000 1.000.000 1.500.000 AYS cours C310 por of Pow mary, 2015 Cercle (12.000.000 7.000.000 4,000,000 (210,000 ng and Goodwill ($0.50 her Subsidiary Total Common Stock ( Common Stock ($1 par Puid-In Capital in Exces Retained Earnings, Apr and still owed Solo Paros January 1, 2015 Prepare the worksheet necessary to determination and distribution of excess schedule. Problem 4-2 20 2 80%, cost, beginning and ending inventory. O Required Cast of Ocher Expenses...... Dividends Declared. ched pril 1, 2015 Totals below. Liabilities and Eq Assets $180,000 Liabilities 320,000 the worksheet and a determination an 2. Prepare the formal con Current assets long-lived assets (net) ..... Common stock. ............ Paid in capital in excess of par Retained earnings .......... Total liabilities and equity ........ $100,000 200.000 100,000 100.000 $500,000 $500,000 Total assets. ...... Use the following ir On January 1, 2015, Corporation for $400 ted to goodwill Benton's purchase of Crandel Company stock: 2. Intercompany merchandise sales were summarized as follows: As Date Merchandise Remaining in Purchaser's Ending Inventory Gross Profit Accounts receivable Inventory Land..... April 1, 2015 to March 31, 2016 Transaction Benton to Crandel Crandel to Benton Benton to Crandel Crandel to Benton Sales $40,000 20,000 32,000 30,000 20% 25 $9,000 4,000 20 25 6,000 3,000 Buildings... Accumulated deprec Equipment... Accumulated deprec Total assets April 1, 2016 to March 31, 2017 b. On March 31, 2017, Benton owed Crandel $10,000, and Crandel owed Benton $5,000 as a result of the intercompany sales. Buildings, w which has a sayo Use the following information for Problems 4-3 and 4-4: Chapter INTERCOMPANY TRANSACTION MURCHANTUN PAN Asmo Serra c Benton paid $25.000 in cash dividends on March 20, 2016 and 2017. Cuande pand its cash dividend on March 10, 2017. giving each share of outstanding common stock: 0.5 d. The trial balances of the two companies as of March 31, 2017, follow cash dividend. 155 S. ASS Benton Crondel Corporation 191.200 44,300 290,000 97,000 310,000 80,000 Company 450.000 1081,000 150,000 850,000 400.000 1940,000 210,000 60,000 242,200 1106,3001 400,000) (250,000 duced Cash Accounts Receivable (net) Inventory ...... Investment in Crandel Company Land ....... Building and Equipment Accumulated Depreciation Goodwill. Accounts Payable Bonds Payable. Common Stock ($0.50 par). Common Stock ($1 par) Paid-In Capital in Excess of Par. Retained Earnings, April 1, 2016. Sales. Dividend Income (from Crandel Company) Cost of Goods Sold Other Expenses. Dividends Declared Totals As pur- alance clude 1200,000) 11,250,000 $100,000) 11,105,000) (140,000) (880,000) 1630,000) 124,000) 704,000 504,000 130,000 81,000 25,000 30,000 0 0 2015 Dan 700 1. Prepare the worksheet necessary to produce the consolidated financial statements of Benton ** Corporation and its subsidiary for the year ended March 31, 2017. Include the value analysis and a determination and distribution of excess schedule and the income distribution schedules. 2. Prepare the formal consolidated income statement for the fiscal year ending March 31, 2017. DO On Januan 1 2011 Access Web From Other Text Sources Get External Data Existing Connections New Query De Recent Sources Get & Transform Refresh Properties All Edit Links 2 Sort Filter Connections B31 Sort & Filter B C D E A 1 Problem 4-2 2 3 F G Company Implied Fair Value 562,500 NCI Parent Price Value 450,000 112,500 4 Value Analysis 5 Price Paid Fair Value of Net Assets 6 Excluding Goodwill 7 Goodwill 8 Gain on Acquisition 9 Determination and Distribution 10 of Excess Schedule 400,000 162,500 320,000 130,000 80,000 32,500 Company Value Partnt Price NCI 562,500 450,000 112,500 11 12 Fair Value of Subsidiary Less Book Value of Interest 13 Acquired 14 Common Stock 15 Paid in Excess 16 Retained Earnings 17 Total Equity 18 Interest Acquired 19 Book Value 20 Excess of Cost over Book Value 200,000 100,000 100,000 400,000 400,000 100% 80% 400,000 320,000 162,500 Worksheet Distribution 162,500 130,000 400,000 20% 80,000 21 Accounts Adjusted 22 Goodwill 23 32,500 24 25 Total 26 162,500 27 28 Intercompany Inventory Profit Deferral 29 Parent 30 Amount 31 Beginning 32 Ending 33 Sheet2 + Parent Parent Profit Sub Amount Sub % Sub Profit Sheet1 Enter where la Corporation and the determination and distribution of excess schedu Benton Corporation purchased 80% of the outstanding Liabilities and be Problem 4-2 10 80%, cost, beginning and ending inventory.1.2015 2000 condensed balance sheet of randel Company at the purchash The following information was gathered pertaining to the first two years of operation since equired Total assets ted to . $180,000 320,000 Long lived sent Liabilities Common stock Paid in capital in excess of par Retained earnings Total liabilities and equity $100,00 200.000 100.000 10005 $500,000 $500,000 Alhoewalues approximated fair values on the purchase date . Any excess cost was atribus Benton's purchase of Crandel Company stock: .. Intercompany merchandise sales were summarized as follows: Merchandise Remaining in Purchaser's Ending Inventory $9,000 4,000 Date Transaction Sales Gross Profit 20% 25 B April 1, 2015 to March 31, 2016 April 1, 2016 to March 31, 2017 Benton to Crandel Crandel to Benton Benton to Crandel Crandel to Benton $40,000 20,000 32,000 30,000 E 20 25 6,000 3,000 b. On March 31, 2017, Benton owed Crandel $10,000, and Crandel owed Benton $5,000 as a result of the intercompany sales