On January $1,2023,$ Pharoah Company issued $1,580$ of its $\backslash (\backslash$$ $20\backslash )$ par value common shares with a fair value of $\backslash (\backslash$$ $60\backslash )$ per share in exchange for the $2,000$ outstanding common shares of Sweet Acacia Company in a purchase transaction. Registration costs amounted to $\backslash (\backslash$$ $1,800\backslash ),$ paid in cash. Just prior to the acquisition, the balance sheets of the two companies were as follows: Any difference between the book value of equity and the value implied by the purchase price relates to goodwill. $($a$)$

Prepare the journal entries on Pharoah Company's books to record the exchange of stock. $($lf no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

$($To record exchange of stock$)$

$($To record registration costs$)($b$).$

Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price.Parent ShareNonControlling Share $($b$).$

Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price.Parent ShareNonControlling ShareEntire Value $($c$)$

Prepare a consolidated balance sheet at the date of acquisition. $($List assets in order of liquidity.$)$

PHAROAH COMPANY AND SUBSIDIARY Consolidated Balance Sheet January $2,2023$

Assets

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