The Primary Company and the VIE Company had the following balance sheet on December 31, 2015, the date control was achieved:

The Primary Company guaranteed the 5% bond payable issued by the VIE Company. The Primary Company also loaned the VIE Company $300,000 on a subordinated note at 10% annual interest.
The fair value of the VIE Company's equity is $170,000. Equipment, with a 5 year life has a value $50,000 greater than book value.
1. Prepare a determination and determination of excess schedule.
2. Prepare a worksheet for a consolidated balance as of December 31, 2015?

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Primary Company VIE Company 80,000 400,000 Accounts receivable- ······ 400,000 300,000 Loan receivable from VIE Co. Land 500,000 150,000 Accumulated depreciation .. 360,000 (60,000] 50,000) ccumulated depreciation- Accounts payable ..._.. . 80,000 300,000 400,000 5% Bond Payable 100,000 900,000 570,000 Paid in capital in excess of par-Primary Co Common stock, $1 par-VIECo. Paid in capital in excess of par-VIE Co. Retained earnings VIE Co. 10,000 50,000 20,000