Question: At the acquisition date, Casey prepared the following fair-value allocation schedule: begin{tabular}{lrr} Fair value of Kennedy (consideration transferred) & begin{tabular}{r}($ 3,300,000)(2,600,000)end{tabular}cline {2-3} Carrying amount acquired

At the acquisition date, Casey prepared the following fair-value allocation schedule: \begin{tabular}{lrr} Fair value of Kennedy (consideration transferred) & \begin{tabular}{r}\(\$ 3,300,000\)\\\(2,600,000\)\end{tabular}\\\cline {2-3} Carrying amount acquired & \(\$ 382,000\) & \(\$ 700,000\)\\ Excess fair value & \((108,000)\) & 274,000\\ to buildings (undervalued) & & \(\$ 426,000\)\\ to licensing agreements (overvalued) & & \(\underline{=}\)\end{tabular} Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses).\begin{tabular}{|l|l|l|}\hline Accounts & Casey & Kennedy \\\hline Cash & \$ 457,000 & \$ 172,500\\\hline Accounts receivable & 1,655,000 & 347,000\\\hline Inventory & 1,310,000 & 263,500\\\hline Investment in Kennedy & 3,300,000 & 0\\\hline Buildings (net) & 6,315,000 & 2,090,000\\\hline Licensing agreements & 0 & 3,070,000\\\hline Goodwill & 347,000 & 0\\\hline Total assets & \$ 13,384,000 & \$ 5,943,000\\\hline Accounts payable & \$ \((394,000)\) & \$ \((393,000)\)\\\hline Long-term debt & (3,990,000) & (2,950,000)\\\hline Common stock & (3,000,000) & (1,000,000)\\\hline Additional paid-in capital & 0 & \((500,000)\)\\\hline Retained earnings & (6,000,000) & (1,100,000)\\\hline Total liabilities and equities & \$ (13,384,000) & \$ (5,943,000)\\\hline \end{tabular} Required: Prepare an acquisition-date consolidated balance sheet for Casey Corporation and its subsidiary Kennedy Corporation. Note: For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Input all amounts as positive values. \begin{tabular}{|l|l|l|l|l|l|}\hline \multicolumn{6}{|c|}{CASEY CORPORATION AND CONSOLIDATED SUBSIDIARY KENNEDY}\\\hline \multicolumn{6}{|c|}{Worksheet for a Consolidated Balance Sheet}\\\hline \multicolumn{6}{|c|}{January 1,2024}\\\hline \multirow{2}{*}{} & \multirow[b]{2}{*}{Casey} & \multirow[b]{2}{*}{Kennedy} & \multicolumn{2}{|c|}{Adjustment and Elimination} & \multirow[b]{2}{*}{Consolidated}\\\hline & & & Debit & Credit & \\\hline Cash & \$ 457,000 & \$ 172,500 & & & \\\hline Accounts receivable & 1,655,000 & 347,000 & & & \\\hline Inventory & 1,310,000 & 263,500 & & & \\\hline Investment in Kennedy & 3,300,000 & & & & \\\hline Buildings (net) & 6,315,000 & 2,090,000 & & & \\\hline Licensing agreements & & 3,070,000 & & & \\\hline Goodwill & 347,000 & & & & \\\hline Total assets & \$ 13,384,000 & \$ 5,943,000 & & & \$ 0\\\hline Accounts payable & \$ \((394,000)\) & \$ \((393,000)\) & & & \\\hline Long-term debt & (3,990,000) & (2,950,000) & & & \\\hline Common stock & (3,000,000) & (1,000,000) & & & \\\hline Additional paid-i

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