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1. Prepare a Value Analysis Schedule.

2. Prepare a Determination and Distribution of Excess Schedule.

Advanced Financial Accounting Assignment for Chapter 2 Fall, 2019 Due no later than 11:59 pm, CDT, Sunday, September 15. You may work in groups, or individually. If you work in a group, include the name(s) of all group members on your submission. All group members must upload their individual submission. Upload your solution as an EXCEL file to your Assignments. Late submissions are not accepted. On January 1, 2019, Paisley acquired 80% of Spooner for $150,000 plus $15,000 in acquisition costs. On the date of acquisition, Spooner had the following balance sheet: Spooner Company Balance Sheet January 1, 2019 Assets Liabilities and Equity Accounts Receivable $40,000 Current Liabilities 60,000 Bonds Payable 60,000 Common Stock, $1 par 180,000 Paid-in Capital (40,000) Retained Earnings $60,000 100,000 30,000 Inventory Land Buildings Accumulated Depreciation Equipment Accumulated Depreciation 80,000 90,000 70,000 (30,000) Goodwill 20,000 $360,000 Total Liabilities and Equity Total Assets $360.000 An appraisal indicates that the following items have fair values that differed from their book values: Accounts Receivable Inventory Land Buildings Equipment Copyright Bonds Payable $20,000 90,000 95,000 130,000 50,000 30,000 110,000 Advanced Financial Accounting Assignment for Chapter 2 Fall, 2019 Due no later than 11:59 pm, CDT, Sunday, September 15. You may work in groups, or individually. If you work in a group, include the name(s) of all group members on your submission. All group members must upload their individual submission. Upload your solution as an EXCEL file to your Assignments. Late submissions are not accepted. On January 1, 2019, Paisley acquired 80% of Spooner for $150,000 plus $15,000 in acquisition costs. On the date of acquisition, Spooner had the following balance sheet: Spooner Company Balance Sheet January 1, 2019 Assets Liabilities and Equity Accounts Receivable $40,000 Current Liabilities 60,000 Bonds Payable 60,000 Common Stock, $1 par 180,000 Paid-in Capital (40,000) Retained Earnings $60,000 100,000 30,000 Inventory Land Buildings Accumulated Depreciation Equipment Accumulated Depreciation 80,000 90,000 70,000 (30,000) Goodwill 20,000 $360,000 Total Liabilities and Equity Total Assets $360.000 An appraisal indicates that the following items have fair values that differed from their book values: Accounts Receivable Inventory Land Buildings Equipment Copyright Bonds Payable $20,000 90,000 95,000 130,000 50,000 30,000 110,000

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