Problem 2-9 (LO 4, 5, 6, 7, 8) 80% purchase, goodwill, limited adjustments, worksheet. Use the preceding information for Pantera’s purchase of Sader common stock. Assume Pantera purchased 80% of the common stock for $360,000. Pantera had the following balance sheet immediately after the purchase:

Pantera Company Balance Sheet January 1, 20X1 Assets Liabilities and Equity Cash . . . . . . . . . . . . . . . . . . $ 101,000 Current liabilities . . . . . . . . . . . $ 80,000 Accounts receivable . . . . . . . . . 65,000 Bonds payable . . . . . . . . . . . . . 200,000 Inventory . . . . . . . . . . . . . . . . 80,000 Common stock . . . . . . . . . . . . . 20,000 Land . . . . . . . . . . . . . . . . . . 100,000 Paid-in capital in excess of par . . 180,000 Investment in Sader . . . . . . . . . 360,000 Retained earnings . . . . . . . . . . . 446,000 Buildings . . . . . . . . . . . . . . . . 250,000 Accumulated depreciation . . . . . (80,000)

Equipment . . . . . . . . . . . . . . . 90,000 Accumulated depreciation . . . . . (40,000)

Total assets . . . . . . . . . . . . . $ 926,000 Total liabilities and equity . . . . $926,000 1. Prepare a zone analysis and a determination and distribution of excess schedule for the investment in Sader.

2. Complete a consolidated worksheet for Pantera Company and its subsidiary Sader Company as of January 1, 20X1.