Playtown Corporation purchased 75 percent of Sandbox Company common stock and 40 percent of its preferred stock on January 1, 20 x 6, for $270,000 and $80,000, respectively. At the time of purchase, the fair value of Sandbox's common shares held by the noncontrolling interest was $90,000. Sandbox's balance sheet contained the following balances: \table[[ Preferred Stock ($10 par value), $200,000 Prepare the consolidation entries needed to prepare the consolidated financial statements for Playtown Corporation as of December 31, 20x6. Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. No A Event Accounts Debit Preferred stock 200,000 Common stock Retained earnings Income from Sandbox Company NCI in NI of Sandbox Company Dividend Income Preferred 150,000 C 210,000 0 ° 9 Dividends declared, Common 0 Investment in Sandbox Company common stock ° NCI in NA of Sandbox Company Credit

On January 1, 2018, Uncle Fester Inc. acquired 100% of Morticia Corp.'s outstanding common stock by exchanging37,500 shares of Uncle Fester's $2 par value common voting stock. On January 1, 2018, Uncle Fester's votingcommon stock had a fair value of $40 per share. Morticia's voting common shares were selling for $6.50 pershare. Morticia's balances on the acquisition date, just prior to acquisition are listed below.Book Value FairValueCash $ 30,000Accounts Receivable 120,000 $ 120,000Inventory 200,000 230,000Land 230,000 290,000Building (net) 450,000 600,000Equipment (net) 175,000 160,000Accounts Payable (80,000) (80,000)Common Stock, $1 par (500,000)Paid-in Capital (350,000)Retained Earnings, 1/1/18 (275,000)Compute the value of Goodwill on the date of acquisition, 1/1/18.

When it purchased Sutton, Inc. on January 1, 20X1, Pavin Corporation issued 500,000 shares of its $5 par voting common stock. On that date the fair value of those shares totaled $4,200,000. Related to the acquisition, Pavin had payments to the attorneys and accountants of $200,000, and stock issuance fees of $100,000. Immediately prior to the purchase, the equity sections of the two firms appeared as follows:     Pavin Sutton Common stock $  4,000,000 $   700,000 Paid-in capital in excess of par 7,500,000 900,000 Retained earnings   5,500,000    500,000 Total $17,000,000 $2,100,000   Immediately after the purchase, the consolidated balance sheet should report retained earnings of: a. $6,000,000 b. $5,800,000 c. $5,500,000 d. $5,300,000

1. On January 1, 20X2, Pol Inc. issued 25,000 shares of its P10 par value common stock for 80% of the outstanding shares of Sci Company. The fair value of Polinc stockis P28. Sci Company (SC) measures non-controlling interest (NCI) at fair value. Given below are the statements offinancial position (SFP) of the companies before the acquisition: Pol Inc. Statement of Finandial Positon January 1, 20X2 Assets Liabilities and Equty Cash Accounts Receivable Inventory Land P200,000 Accounts Payable 185,000 Bonds Payable 190,000 Common Stock, P10 par value 300,000 Additional Paid-In Capital (APIC) 740,000 Retained Earnings 420.000 Total Liabilities and Equity P2.035.000 P210,000 420,000 400,000 500,000 505.000 P2.035.000 Building, net ofdepreciation Equipment, net of depreciation Total Assets Sci Company Statement of Financial Positon January 1,20X2 Book Value Fair Value P55,000 125,000 90,000 320,000 130.000 P720.000 Accounts Receivable Inventory Land P55,000 150,000 130,000 500,000 300.000…