Assume that on 1/1/xx, a parent company acquired 90% interest in a subsidiary. the total fair value of the controlling and noncontrolling interests was $480,000 over book value. the parent assigned the excess to: ppe with a fair value of $160,000 and useful life of 20 years, patent with a fair value of $80,000 and useful life of 10 years, customer list with a fair value of $40,000 and useful life of 10 years, and goodwill with a fair value of 200,000.90% of the goodwill is assigned to the parent.using the spreadsheet: prepare the consolidated financial statements at 12/31/xx by placing the appropriate entries in their respective debit/credit column cells.indicate, in the blank column cell to the left of the debit and credit column cells if the entry is a [c], [e], [a]or [d] entry.use excel formulas to derive the consolidated column amounts and totals.using the "home" key in excel, go to the "styles" area and highlight the [c], [e], [a], and [d] entry cells in different shades.
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Ответ:
balance sheet
investment on subsidiary X
investment on subsidiary above value- PPE 136,800
investment on subsidiary above value- Patent 64.800
investment on subsidiary above value- Consumer list 32,400
investment on subsidiary - goodwill 180,000
Explanation:
We will multiply the 480,000 difference between bok value and fair value by the 90% share of the parent company. Then, we divide by the useful life to know the amortization.
PPE 160,000 x 90% = $ 144,000
20 years useful life
amortization 7,200
PATENT 80,000 X 90% = $ 72,000
10 years useful life
amortization 7,200
CONSUMER LIST 40,000 x 90% = $ 36,000
10 years useful life
amortization 3,600
these will be the amrtzation during the year and decreasing the amounts of the value above book value.
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