How do I prepare purchase entry for a? How do I prepare consolidation journal entry to consolidated equity accounts? How do I prepare consolidated journal entry to consolicate assets? How do I prepare consolidated balance sheet?

Consolidated Balance Sheet Prepare a Consolidated Balance Sheet for Big Lake Bakeries which owns 100% of Marble Falls Orchards. The fair value of Marble Falls net fixed assets are $2,675,000. Big Lake aquired 100% of Marble Falls for Fair value of fixed assets Balance Sheet prior to acquistion Current assets fixed assets, net Liabilties Common Stock Paid in Capital Retained Earnings Big Lake 4,250,000 4,500,000 350,000 7,500,000 500,000 400,000 3,750,000 2,675,000 Marble Falls 500,000 1,675,000 125,000 1,525,000 1. Determine the Fair Value of Marble Falls' net assets. Account Fair Value Fair Vaue of assets 2. Calculate Goodwill Purchase Price Fair value of assets Goodwill 2. Prepared journal entries on Big Lake's Books Worksheet Initial purchase less equity balances difference less goodwill 525,000 Step up in Net assets a. Prepare purchase entry Debit Credit b. Prepare consolidated journal entry to consolidate equity accounts c. Prepare consolidated journal entry to consolidate assets 3.Prepare Consolidated balance Sheet Big Lake Current assets Fixed Assets Investment in Marble Falls Good will Total Liabilites Common Stock Paid in Capital Retained Earnings Total Marble Falls Debit Credit Consolidated balances