Using the data in the attached spreadsheet, complete the consolidation worksheet by:

entering the consolidation entries in the appropriate columns for the elimination entries [E], and the addition of the AAP amounts [A]; and,

b) preparing the consolidated balance sheet as it would appear after acquisition.

Requirements

Clearly identify the requirements being addressed.

Show all calculations within the cells of an Excel spreadsheet. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well. No hard coding of solutions.

ACT470_ StudentSpreadsheet Mod01 CT Option0 Home Insert Page Layout Formulas DataReview View Condit Forma Cell St Calibri (Body) 11 AA 0 Paste Number C6 1 Module 1-Option 2_Student Consolidation Entries Sunbsidiary Dr Consolidated 5 Assets 6 Cash and receivables 7 Inventory 8 PPE 9 Equity Investment 10 11 Patent 12 Goodwill 13 Total 14 15 16 Liabilities and 17 Stockholders' equity 18 Current Liabilities 19 Other liabilities 20 Bonds payable 21 Common stock 22 APIC 23 Retained earnings 24 Total 25 26 150,000 90,000 1,750,000985,000 400,000 200,000 1,200,000 3,550,000 1,225,000 225,000150,000 75,000 100,000 1,250,000500,000 1,450,000 250,000 150,000 3,550,000 1,225,000 100,000 525,000 27 Parent Company purchased Subsidiary on 1/1/xx for 1,200,000. The parent paid more than book value due to undervalued 28 PPE of 150,000 and an unrecorded subsidiary patent valued at 50,000. 29 30