# Complete problem 2-7 using the week 02 excel template. using the data

Complete Problem 2-7 using the Week 02 Excel Template.

Using the data given in Problem 2-6, assume that Aron Company purchases 80% of the common stock of Shield Company for \$320,000 cash.

The following comparative balance sheets are prepared for the two companies immediately after the purchase:

 Aron Shield Cash \$ 315,000 \$ 40,000 Accounts receivable 70,000 30,000 Inventory 130,000 120,000 Investment in Shield Company 320,000 Land 50,000 35,000 Buildings and equipment 350,000 230,000 Accumulated depreciation (100,000) (50,000) Copyrights 40,000 10,000 Total assets \$1,175,000 \$415,000 Current liabilities \$ 192,000 \$ 65,000 Bonds payable 100,000 Common stock (\$10 par)—Aron 100,000 Common stock (\$5 par)—Shield 50,000 Paid-in capital in excess of par 250,000 70,000 Retained earnings 633,000 130,000 Total liabilities and equity \$1,175,000 \$415,000

Required

• 1. Prepare the value analysis and the determination and distribution of excess schedule for the investment in Shield Company.
• 2. Complete a consolidated worksheet for Aron Company and its subsidiary Shield Company as of December 31, 2015.

Information from 2-6

On December 31, 2015, Aron Company purchases 100% of the common stock of Shield Company for \$450,000 cash. On this date, any excess of cost over book value is attributed to accounts with fair values that differ from book values. These accounts of Shield Company have the following fair values:

 Cash \$ 40,000 Accounts receivable 30,000 Inventory 140,000 Land 45,000 Buildings and equipment 225,000 Copyrights 25,000 Current liabilities 65,000 Bonds payable 105,000

The following comparative balance sheets are prepared for the two companies immediately after the purchase:

 Aron Shield Cash \$ 185,000 \$ 40,000 Accounts receivable 70,000 30,000 Inventory 130,000 120,000 Investment in Shield Company 450,000 Land 50,000 35,000 Buildings and equipment 350,000 230,000 Accumulated depreciation (100,000) (50,000) Copyrights 40,000 10,000 Total assets \$1,175,000 \$415,000 Current liabilities \$ 192,000 \$ 65,000 Bonds payable 100,000 Common stock (\$10 par)—Aron 100,000 Common stock (\$5 par)—Shield 50,000 Paid-in capital in excess of par 250,000 70,000 Retained earnings 633,000 130,000 Total liabilities and equity \$1,175,000 \$415,000

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