Using the data in the attached spreadsheet, you are to: For Worksheets 1-4, give the journal entry to record the asset transfer. For worksheets 5-8, calculate the amount of goodwill or bargain purchase. Requirements: Complete all work on the spreadsheet attached to this assignment. It will be your only deliverable. Clearly identify the requirements being addressed. Show all calculations within the cells of an Excel spreadsheet. This means that you must use formulas and links so that the thought process can be examined. No hard coding of solutions. Submit a single MS Excel file for grading.

Assume that Parent Company decides to acquire Sub Company for $564,000 of debentures Assets, Liabilities & Equities Cash AR Inventory Land Plant and Equipment Less: Accumulated Depreciation Goodwill Patent Total Assets AP Common Stock Additional Paid In Capital Retained Earnings Total Liabilities & Equity Sub Company Balance Sheet Book Value $40,000 $15,000 $105,000 $60,000 $400,000 -$150,000 $10,000 Prepare the consolidating journal entries for a 100% Asset Acquisition (using Cash) Account Amount DR Fair Value CR $40,000 $10,000 $200,000 $100,000 $300,000 $0 $480,000 $50,000 $100,000 $60,000 $270,000 $480,000 $0 $650,000 $50,000 Assume that Parent Company decides to acquire Sub Company for $580,000 of debentures Assets, Liabilities & Equities Cash AR Inventory Land Plant and Equipment Less: Accumulated Depreciation Goodwill Patent Total Assets AP Common Stock Additional Paid In Capital Retained Earnings Total Liabilities & Equity Sub Company Balance Sheet Book Value $40,000 $15,000 $105,000 $60,000 $400,000 -$150,000 $10,000 Prepare the consolidating journal entries for a 100% Asset Acquisition (using Cash) Account Amount DR Fair Value CR $40,000 $10,000 $200,000 $100,000 $300,000 $0 $480,000 $50,000 $100,000 $60,000 $270,000 $480,000 $0 $650,000 $50,000 Assume that Parent Company decides to acquire Sub Company for $625,000 of debentures Assets, Liabilities & Equities Cash AR Inventory Land Plant and Equipment Less: Accumulated Depreciation Goodwill Patent Total Assets AP Common Stock Additional Paid In Capital Retained Earnings Total Liabilities & Equity Sub Company Balance Sheet Book Value $40,000 $15,000 $105,000 $60,000 $400,000 -$150,000 $10,000 $0 $480,000 $50,000 $100,000 $60,000 $270,000 $480,000 Prepare the consolidating journal entries for a 100% Asset Acquisition (using Cash) Account Amount DR Fair Value $40,000 $10,000 $200,000 $100,000 $300,000 $0 $650,000 $50,000 CR