Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng

تمرين 18

100% purchase, bargain, several adjustments, worksheet. Use the preceding information for Purnell's purchase of Sentinel common stock. Assume Purnell exchanges 16,000 shares of its own stock for 100% of the common stock of Sentinel. The stock has a market value of $50 per share and a par value of $1. Purnell has the following trial balance immediately after the purchase, as shown on page 112.
1. Prepare the value analysis schedule and the determination and distribution of excess schedule for the investment in Sentinel.
2. Complete a consolidated worksheet for Purnell Corporation and its subsidiary Sentinel Corporation as of December 31, 2011.