Question: A B please Exercise 2-11 (Static) Balance Sheet Worksheet LO 2-5, 2-6 Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31,202,

A B please

Exercise 2-11 (Static) Balance Sheet Worksheet LO 2-5, 2-6 Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31,202, for $150,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: At the date of the business combination, the book values of Faith's net assets and liabilities approximated fair value. Assume that Faith Required: a. Give the consolidation entry or entries needed to prepare a consolidated balance sheet immediately following the business combination. b. Prepare a consolidated balance sheet worksheet. A Record the basic consolidation entry. B Record the optional accumulated depreciation consolidation entry

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