On January 1, 2023, Shamrock Company issued 1,340 of its $20 par value common shares with...

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On January 1, 2023, Shamrock Company issued 1,340 of its $20 par value common shares with a fair value of $60 per share in exchange for the 2,000 outstanding common shares of Ivanhoe Company in a purchase transaction. Registration costs amounted to $2,200, paid in cash. Just prior to the acquisition, the balance sheets of the two companies were as follows: Shamrock Company Ivanhoe Company Cash $82,500 $12,100 Accounts receivable (net) 97,000 19,900 Inventory 61,100 23,500 Plant and equipment (net) 91,000 42,500 Land 25,000 22,000 Total assets $356,600 $120,000 Accounts payable $67,500 $20,500 Notes payable 80,000 27,000 Common stock, $20 par value 100,000 40,000 Other contributed capital 60,000 25,500 Retained earnings 49,100 7,000 Total equities $356,600 $120,000 Any difference between the book value of equity and the value implied by the purchase price relates to goodwill. Prepare the journal entries on Shamrock Company's books to record the exchange of stock. (If 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.) Account Titles and Explanation Investment in Ivanhoe Company Common Stock Other Contributed Capital (To record exchange of stock) Other Contributed Capital Cash (To record registration costs) Debit 80,400 2,200 Credit 2,200 Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price. Purchase Price and Implied Value Less Book Value of Equity Acquired Difference Between Implied and Book Value Goodwill Balance Parent Share $ 100,200 72,500 $ Non- Controlling Share Cash Accounts Receivable Inventory Plant and Equipment land goodwill Total Assets Liabilities Accounts Payable Note Payable Total Liabilities Stockholders' Equity Common Stock Assets +A $ Liabilities and Stockholders' Equity Other Contributed Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity +A +A On January 1, 2023, Shamrock Company issued 1,340 of its $20 par value common shares with a fair value of $60 per share in exchange for the 2,000 outstanding common shares of Ivanhoe Company in a purchase transaction. Registration costs amounted to $2,200, paid in cash. Just prior to the acquisition, the balance sheets of the two companies were as follows: Shamrock Company Ivanhoe Company Cash $82,500 $12,100 Accounts receivable (net) 97,000 19,900 Inventory 61,100 23,500 Plant and equipment (net) 91,000 42,500 Land 25,000 22,000 Total assets $356,600 $120,000 Accounts payable $67,500 $20,500 Notes payable 80,000 27,000 Common stock, $20 par value 100,000 40,000 Other contributed capital 60,000 25,500 Retained earnings 49,100 7,000 Total equities $356,600 $120,000 Any difference between the book value of equity and the value implied by the purchase price relates to goodwill. Prepare the journal entries on Shamrock Company's books to record the exchange of stock. (If 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.) Account Titles and Explanation Investment in Ivanhoe Company Common Stock Other Contributed Capital (To record exchange of stock) Other Contributed Capital Cash (To record registration costs) Debit 80,400 2,200 Credit 2,200 Prepare a Computation and Allocation Schedule for the difference between book value and value implied by the purchase price. Purchase Price and Implied Value Less Book Value of Equity Acquired Difference Between Implied and Book Value Goodwill Balance Parent Share $ 100,200 72,500 $ Non- Controlling Share Cash Accounts Receivable Inventory Plant and Equipment land goodwill Total Assets Liabilities Accounts Payable Note Payable Total Liabilities Stockholders' Equity Common Stock Assets +A $ Liabilities and Stockholders' Equity Other Contributed Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity +A +A