2-15 - 15. (Prepare a consolidated balance sheet)...

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15. (Prepare a consolidated balance sheet) Consideration transferred at fair value . ............ $495,000 Book value. .......................................................... 265,000 Excess fair over book value. .............................. 230,000 Allocation of excess fair value to specific assets and liabilities: to computer software . ................................... $50,000 to equipment . ................................................. (10,000) to client contracts. ......................................... 100,000 ........................................................ 40,000 to notes payable . ........................................... (5,000 ) 175,000 Goodwill. .............................................................. $55,000 Pratt Spider Debit Credit Consolidated Cash 36,000 18,000 54,000 Receivables 116,000 52,000 168,000 Inventory 140,000 90,000 230,000 Investment in Spider 495,000 -0- (S) 265,000 (A) 230,000 -0- Computer software 210,000 20,000 (A) 50,000
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2-15 - 15. (Prepare a consolidated balance sheet)...

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