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

ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of non-controlling interest on the acquisition date consolidated balance sheet?   In good accounting form, please. Thank you! <33

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…

Use this problem for the next two questions: On January 1, year 1, ABC Corporation purchased 80% of XYZ Corporation's P10 par common stock for P975,000. On this date, the carrying amount of XYZ's net assets was P1,000,000. The fair values of XYZ's identifiable assets and liabilities were the same as their carrying amounts except for plant assets (net) with fair values of P100,000 in excess of their carrying amount. The fair value of the noncontrolling interest in XYZ on January 1, year 1, was P250,000. For the year ended December 31, year 1, XYZ had net income of P190,000 and paid cash dividends totaling P125,000. In the January 1, year 1 consolidated balance sheet, In the December 31, year 1 consolidated balance sheet, noncontrolling interest should be reported at ?

Use this problem for the next two questions: On January 1, year 1, ABC Corporation purchased 80% of XYZ Corporation's P10 par common stock for P975,000. On this date, the carrying amount of XYZ's net assets was P1,000,000. The fair values of XYZ's identifiable assets and liabilities were the same as their carrying amounts except for plant assets (net) with fair values of P100,000 in excess of their carrying amount. The fair value of the noncontrolling interest in XYZ on January 1, year 1, was P250,000. For the year ended December 31, year 1, XYZ had net income of P190,000 and paid cash dividends totaling P125,000. In the January 1, year 1 consolidated balance sheet, goodwill should be reported at ?

On July 1, 20X1, Pushway Corporation issued 100,000 shares of common stock in exchange for all of Stroker Company’s common stock. The Pushway stock issued had a market value of $500,000 on the date of the exchange. Following are the July 1, 20X1, pre-acquisition balance sheets of Pushway and Stroker, plus fair value information for Stroker’s assets and liabilities.     Stroker   Pushway Book Value Fair Value Assets                   Current assets $ 300,000   $ 100,000   $ 100,000   Long-term assets   600,000     400,000     470,000   Total assets $ 900,000   $ 500,000   $ 570,000   Liabilities                   Current liabilities $ 200,000   $ 50,000   $ 50,000   Long-term liabilities   250,000     100,000     120,000   Total liabilities   450,000     150,000   $ 170,000   Stockholders' equity                   Common stock   300,000     250,000         Retained earnings   150,000     100,000         Total stockholders' equity   450,000     350,000…

On July 1, 20X1, Pushway Corporation issued 100,000 shares of common stock in exchange for all of Stroker Company’s common stock. The Pushway stock issued had a market value of $500,000 on the date of the exchange. Following are the July 1, 20X1, pre-acquisition balance sheets of Pushway and Stroker, plus fair value information for Stroker’s assets and liabilities.     Stroker   Pushway Book Value Fair Value Assets                   Current assets $ 300,000   $ 100,000   $ 100,000   Long-term assets   600,000     400,000     470,000   Total assets $ 900,000   $ 500,000   $ 570,000   Liabilities                   Current liabilities $ 200,000   $ 50,000   $ 50,000   Long-term liabilities   250,000     100,000     120,000   Total liabilities   450,000     150,000   $ 170,000   Stockholders' equity                   Common stock   300,000     250,000         Retained earnings   150,000     100,000         Total stockholders' equity   450,000     350,000…

LGM Motors acquired 80% of NS Service Center outstanding shares on January 1, 2022 by payingcash. The consolidated statement of financial position showed the following balances at thedate of acquisition.Consolidated Balances AmountTotal Assets 15,670,000Total Liabilities 4,575,000Total Shareholder’s Equity ?The book value of the net assets of NS Services Center is P4,500,000. The assets of NS ServiceCenter are fairly valued except for the following:• Patent on the product that is deemed worthless, P50,000.• Goodwill of P150,000.• Unrecognized identifiable R&D of P75,000.The fair value of the non-controlling interest is 705,000 and the book value of LGM’s equitybalance is P9,500,000.On December 31, 2022 the following information were provided by NS Services Center:• Net income of 400,000 was recognized.• Patents remaining useful life is 4 years.• Pre-existing goodwill presented above was impaired with a current value of 120,000.• Dividends were declared amounting to P100,000.LGM…

On January 1, 2022, Lucas Company acquired 85% of outstanding shares of Luna Corp. Theconsideration transferred includes cash payment of P2,000,000 and issuance of 50,000 shareswith a market price of P45 per share.The book value of Luna Corp.’s identifiable net assets approximate its fair value, except for thefollowing:• Merchandise inventory’s fair value is lower than the book balance by 150,000.• Equipment-A, with 2 years remaining useful life, costing P300,000 is understated byP50,000.• Land with a fair value of P500,000 is recognized in the books amounting to P350,000.The following events happened to Luna Corp.• Equipment-A was sold in June 30, 2023 for P320,000.• 60% of merchandise inventory were sold in 2022.• There is no movement as to the ordinary shares of Luna Corp during the year.The unadjusted trial balance as of December 31, 2022 were as follows:Lucas Company Luna CorpCash 2,240,000 1,800,000Trade Receivables 1,000,000 960,000Merchandise Inventory 2,320,000…

On January 1, 2022, Lucas Company acquired 85% of outstanding shares of Luna Corp. Theconsideration transferred includes cash payment of P2,000,000 and issuance of 50,000 shareswith a market price of P45 per share.The book value of Luna Corp.’s identifiable net assets approximate its fair value, except for thefollowing:• Merchandise inventory’s fair value is lower than the book balance by 150,000.• Equipment-A, with 2 years remaining useful life, costing P300,000 is understated byP50,000.• Land with a fair value of P500,000 is recognized in the books amounting to P350,000.The following events happened to Luna Corp.• Equipment-A was sold in June 30, 2023 for P320,000.• 60% of merchandise inventory were sold in 2022.• There is no movement as to the ordinary shares of Luna Corp during the year.The unadjusted trial balance as of December 31, 2022 were as follows:Lucas Company Luna CorpCash 2,240,000 1,800,000Trade Receivables 1,000,000 960,000Merchandise Inventory 2,320,000…