Question: Please...Help me to solve this problem using the following excel Determination and Distribution of Excess Schedule Company Value Parent Price NCI Fair Value of Subsidiary

Please...Help me to solve this problem using the following excel

Please...Help me to solve this problem using the following excel Determination andDistribution of Excess Schedule Company Value Parent Price NCI Fair Value ofSubsidiary 250,000 400,000 162,000 Less Book Value of Interest Acquired Common Stock20,000 Paid in Excess 180,000 Retained Earnings 140,000 Total Equity 340,000 Interest

Determination and Distribution of Excess Schedule Company Value Parent Price NCI Fair Value of Subsidiary 250,000 400,000 162,000 Less Book Value of Interest Acquired Common Stock 20,000 Paid in Excess 180,000 Retained Earnings 140,000 Total Equity 340,000 Interest Acquired $38,000 Book Value 40,000 Excess of Cost over Book Value 2,000 Worksheet Accounts Adjusted Distribution Impared Value 238,000 Less Book Value of Interest Acquired 220,000 Goodwill Gain on Acquisition Total 0Problem 2-1 Consolidated Worksheet Balance sheet Roland Downes Key Dr Other Current Assets 10,000 70,000 Inventory 120,000 60,000 Land 100,000 40,000 Building (net) 300,000 120,000 Equipment (net) 430,000 110,000 Investment in Downes 720,000 Current Liabilities (180,000) (60,000) Common Stock-Downes (20,000) Paid in Capital-Downes (180,000) Retained Earnings-Downes Common stock - Roland Retained earnings- Roland Totals NCI Totals Eliminations and Adjustments Entries Debit CreditProblem 2-1 (LO 3, 4, 5, 6) 100% purchase, goodwill, consolidated balance sheet. On July 1, 2016, Roland Company exchanged 18,000 of its $45 fair value ($1 par value) shares for all the outstanding shares of Downes Company. Roland paid acquisition costs of $40,000. The two companies had the following balance sheets on July 1, 2016: Assets Roland Downes Other current assets . . .. $ 50,000 $ 70,000 Inventory . . . . 120,000 60,000 Land. . . 100,000 40,000 Building (net) . 300,000 120,000 Equipment (net) . . . .. . . . 430,000 110,000 Total assets. . . . . . $1,000,000 $400,000 Liabilities and Equity Current liabilities . $ 180,000 $ 60,000 Common stock ($1 par) . . . . . . . . . . . . . 40,000 20,000 Paid-in capital in excess of par . . . . . . 360,000 180,000 Retained earnings . . . . . . . . . . . 420,000 140,000 Total liabilities and equity . .. . . . . . . $1,000,000 $400,000 The following fair values applied to Downes's assets: Other current assets . . . . . . . . . . $ 70,000 Inventory . . . . 80,000 Land. . . 90,000 Building . . . . 150,000 Equipment . .. 100,000 1. Record the investment in Downes Company and any other entry necessitated by the purchase. 2. Prepare the value analysis and the determination and distribution of excess schedule. 3. Prepare a consolidated balance sheet for July 1, 2016, immediately subsequent to the purchase.Common Information Ownership Interest Market Number of Price per Cash Shares Share Total Price Paid 40,000 18,000 45 850,000 Acquired Company's Balance Sheet Before Purchase Book Market Book Value Market Value Value Value Assets 70,000 70,000 Liabilities Other current asset 60,000 80,000 Current Lial 60,000 60,000 Inventory Common S 20,000 20,000 Land 40,000 90,000 Paid in capi 180,000 18,000 Building 120,000 150,000 Retained e 140,000 140,000 Equipment 110,000 100,000 Equity Goodwill Total Liabilities Total Assets 330,000 420,000 and Equity 400,000 238,000 Company Implied Fair Value Analysis Value Parent Price NCI Value Price Paid 238,000 400,000 162,000 Fair Value of Net Assets Excluding Goodwill 220,000 170,000 80,000 Goodwill 38,000 230,000 82,000 Gain on Acquisition

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