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, Tesco Company spent a total of $4,428,000 to acquire control over Blondel Company. This price was based on paying $432,000 for 20 percent of Blondel’s preferred stock and $3,996,000 for 90 percent of its outstanding common stock. At the acquisition date, the fair value of the 10 percent noncontrolling interest in Blondel’s common stock was $444,000. The fair value of the 80 percent of Blondel’s preferred shares not owned by Tesco was $1,728,000. Blondel’s stockholders’ equity accounts at January 1 were as follows: Preferred stock—9%, $100 par value, cumulative and participating; 10,000 shares outstanding $ 1,000,000 Common stock—$50 par value; 40,000 shares outstanding 2,000,000 Retained earnings 3,350,000 Total stockholders’ equity $ 6,350,000 Tesco believes that all of Blondel’s accounts approximate their fair values within the company’s financial statements. What amount of consolidated goodwill should be recognized?

Pop Corporation acquired 70 percent of Soda Company's voting common shares on January 1, 20X2, for $109,200. At that date, the noncontrolling interest had a fair value of $46,800 and Soda reported $71,000 of common stock outstanding and retained earnings of $30,000. The differential is assigned to buildings and equipment, which had a fair value $20,000 higher than book value and a remaining 10-year life, and to patents, which had a fair value $35,000 higher than book value and a remaining life of five years at the date of the business combination. Trial balances for the companies as of December 31, 20X3, are as follows:   On December 31, 20X2, Soda purchased inventory for $35,000 and sold it to Pop for $50,000. Pop resold $30,000 of the inventory (i.e., $30,000 of the $50,000 acquired from Soda) during 20X3 and had the remaining balance in inventory at December 31, 20X3. During 20X3, Soda sold inventory purchased for $56,000 to Pop for $80,000, and Pop resold all but $23,000 of its…

Pop Corporation acquired 70 percent of Soda Company's voting common shares on January 1, 20X2, for $108,500. At that date, the noncontrolling interest had a fair value of $46,500 and Soda reported $70,000 of common stock outstanding and retained earnings of $30,000. The differential is assigned to buildings and equipment, which had a fair value $20,000 higher than book value and a remaining 10-year life, and to patents, which had a fair value $35,000 higher than book value and a remaining life of five years at the date of the business combination. Trial balances for the companies as of December 31, 20X3, are as follows:    Pop Corporation   Soda Company   Item   Debit   Credit   Debit   Credit   Cash & Accounts Receivable   $ 15,400           $ 21,600             Inventory     165,000             35,000             Land     80,000             40,000             Buildings & Equipment     340,000             260,000             Investment in Soda Company…