|Part I||Part II|
|Prepare your written response in the areas below. Use a separate section to address a separate part of the question.||Assume that Big Company decides to acquire 100% of Little Company for $200,000. Prepare the consolidated balance sheet and any supporting worksheets.||Calculation of fair value of the net assets of Little Company||Journal Entry for Acquisition||Assume that Big Company decides to acquire 100% of Little Company for $200,000. Prepare the consolidated balance sheet and any supporting worksheets.||Prepare the Consolidated Balance Sheet in the area below|
|1||Big Company Balance Sheet||Big Company Worksheet||Big Company Balance Sheet|
|Assets, Liabilities & Equities||Book Value||Assets, Liabilities & Equities||Assets, Liabilities & Equities|
|Accumulated Depreciation||-$150,000||Accumulated Depreciation||Accumulated Depreciation|
|Total Assets||$850,000||Total Assets||Total Assets|
|2||Common Stock||$395,000||Common Stock||Common Stock|
|Additional Paid In Capital||$300,000||Additional Paid In Capital||Additional Paid In Capital|
|Retained Earnings||$45,000||Retained Earnings||Retained Earnings|
|Total Liabilities & Equity||$850,000||Total Liabilities & Equity||Total Liabilities & Equity|
|Little Company Balance Sheet|
|Assets, Liabilities & Equities||Book Value|
|Additional Paid In Capital||$35,000|
|Total Liabilities & Equity||$185,000|
|Assume that Fair Value of all noncash assets are 25% greater than book value|
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