March 1, 2015, Collier Enterprises purchases a 100% interest in Robby Corporation for $480,000 cash. Robby Corporation applies push-down accounting principles Problem 2-5 (LO 5, 6, 9) 100% purchase, goodwill, push- to account for this acquisition. Robby Corporation has the following balance sheet on February 28, 2015: vollo sdr Robby Corporation Balance Sheet February 28, 2015 Liabilities and Equity Assets $ 60,000 Current liabilities.. 80,000 Bonds payable 40,000 Common stock ($5). 300,000 Paid-in capital in excess of par (120,000) Retained earnings 220,000 $ 50,000 100,000 50,000 250,000 70,000 Accounts receivable Inventory Land.. Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment. (60,000) $ 520,000 Total assets.. Total liabilities and equity $520,000 ... Collier Enterprises receives an independent appraisal on the fair values of Robby Corpora- tion's assets and liabilities. The controller has reviewed the following figures and accepts them as reasonable: Accounts receivable $ 60,000 100,000 Inventory Land.. Buildings Equipment . Current liabilities 55,000 200,000 150,000 50,000 98,000 Bonds payable 1. Record the investment in Robby Corporation. 2. Prepare the value analysis schedule and the determination and distribution of excess schedule. 3. Give Robby Corporation's adjusting entry.

Dinesh bhai

A-5

e of cents Price Company purchased 90% of the outstanding common stock of Score Company on January 1, 2016, for $450,000. At that time, Score Company had stockholders' equity consisting of common stock, $200,000; other com $160,000; and retained earnings, $90,000. On December 31, 2020, trial balances for Price Company and Score Company were as follows: Price $ 109,000 $ Cash Accounts Receivable Note Receivable Inventory Investment in Score Company Plant and Equipment Land Score 78,000 94,000 -0- 166,000 75,000 309,000 158,000 450,000 -0- 940,000 420,000 160,000 70,000 70,000 50,000 822,000 242,000 250,500 124,000 Dividends Declared Cost of Goods Sold Operating Expenses Total Debits Accounts Payable Notes Payable Common Stock $3,351,500 $1,236,000 $ 132,000 $ 46,000 300,000 120,000 500,000 200,000 260,000 160,000 Other Contributed Capital Retained Earnings, 1/1 Sales Dividend and Interest Income Total Credits 687,000 1,420,000 52,500 $3.351,500 $1,236,000 210,000 500,000 -0- Price…