PLEASE PROVIDE ANSWERS WITH JOURNAL ENTRIES IF NEEDED AND NOTES ALSO DO NOT PROVIDE ANSWERS IN PICTURES. PROVIDE ANSWERS USING A TABLE IN ACCOUNTING FORMAT AS IT WOULD BE IN EXCEL PLEASE. THANKS

Problem 1

On January 1, 2018, Hay Co. paid $610,000 for 30% of the voting common stock of Joy Corp giving it the ability to exercise significant influence over the company. At the time of the investment, Joy had net assets with a book value and fair value of $2,000,000 (no difference existed between the two values). During 2018, Joy incurred anet loss of $75,000 and paid dividends of $110,000. Any excess cost over book value is attributable to goodwill with an indefinite life. Prepare in Excel. Required a) Prepare a schedule to show the amount of goodwill from Hay's investment in Joy. b) Prepare a schedule to show the balance in Hay's investment account at December 31, 2018.

Problem 2

On January 1, 2018, Jay Corp. acquired 40% of the outstanding common stock of Bob Corporation for $1,300,000. This acquisition gave Jay the ability to exercise significant influence over the investee. The book value of Bob Corporation was $2,430,000. Any excess cost over the underlying book value was assigned to a patent that was undervalued on Bob's balance sheet. This patent has a remaining useful life of ten years. For the year ended December 31, 2018, Bob reported net income of $342,000 and paid cash dividends of $98,000. Prepare in Excel. Required (a) Prepare a schedule to show the balance Jay should report as its Investment in Bob Corporation at December 31, 2018.

Problem 5

Instructions: Prepare a consolidated worksheet to arrive at a consolidated balance sheet totals as of the acquisition by using the 3 different methods: Equity, Initial Value, and Partial-Equity Method. Use the Excel template provided (tab 2, 3, 4-Problem 5 Equity, Problem 5 Initial Value, Problem 5 Partial-Equity). Note that the problem has also been posted on the Excel template for ease of transferring information (hint: many of the line items are the same for each of the 3 methods). Prepare in Excel.

Problem 7

Dave, Pam, and Mike have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%, and 40% respectively. Pam retires and is paid $80,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital of the remaining partners?Show work, in Excel, as to how you arrived at partners' capital balances.

Problem 9

The partners of Felch, Louise, & Jones LLP decided to liquidate on August 1, 2013. The partnership agreement stated the profit and loss ratio was 25%, 45%, and 30%, respectively. The balance sheet, of the partnership, is as follows:

Notes to the financial statement: The disposal of Other Assets, with a carrying amount of $200,000, realized $140,000. In addition, all available cash was distributed. Instructions: Prepare the schedule, in Excel, to compute the cash payments to the partners.