$($b$)$ Prepare a schedule to calculate and allocate the acquisition differential. $($Negative amounts and amounts to be deducted should

be indicated by a minus sign.$)($c$)$ Prepare Ravinder Corp.$\text{'}$s consolidated balance sheet as at August $1,$ Year $3.$ Assume there were no transactions on this date other

than the transactions described above. $($Negative amounts should be indicated by a minus sign.$)$ Journal entry worksheet

Record the payment for share acquisition.

Note: Enter debits before credits.Journal entry worksheet

$B$

Record the cost of legal fees.

Note: Enter debits before credits. The July $31,$ Year $3,$ balance sheets of two companies that are parties to a business combination are as follows:

In addition to the assets identified above, Ravinder Corp. attributed a value of $$100,300$ to a major research project that Robin Inc. was

working on$.$ Robin Inc. feels that it is within a year of developing a prototype for a state$-$of$-$the$-$art bio$-$medical device. If this device can

ever be patented, it could be worth hundreds of thousands of dollars.

Effective on August $1,$ Year $3,$ the shareholders of Robin Inc. accepted an offer from Ravinder Corp. to purchase $80\%$ of their common

shares for $$1,052,000$ in cash. Ravinder Corp.$\text{'}$s legal fees for investigating and drawing up the share purchase agreement amounted

to $$25,150.$