Thursday 12:44 AM Edit 17a Chapter 4 Colidarion of Wholly Owned Subsidiaries Acquired at More than Book Value On June 10, 20XS, Playoff Corporation acquired 100 percent of Series Company's common stock. Summarized balance sheet data for the two companies immediately after the stock acquisition are as follows Consolidation Entries with Differential E4-12 LO4-3 Series Company Playoff Corp Fair Value Book Value tem Advanced ulyOuide $ 5,000 10,000 25,000 70,000 $ 5.000 10.000 20.000 $ 15.000 30,000 80,000 120,000 100,000 Cash Accounts Receivable Inventory Buildings&Equipment (ne investment in Senies Stock 50,000 $85.000 $110,000 Total $345,000 Accounts Payable Bonds Payabie Common Stock Retained Eamings $ 3,000 $ 3,000 $ 25.000 150.000 55.000 25.000 20,000 37,000 25,000 115,000 Total $345.000 $ 28.000 $85,000 Required a Give the consolidation entries required to prepare a consolidated balance sheet immediately after the acquisition of Series Company shares h. Explain how consolidation entries differ from odher types of journal entries recorded in the normal course of business