On January 2 2022, PT Putri in Indonesia purchased 80% of the outstanding shares of PT Sunny located in Singapore. The investment cost in Singapore Dollars (S$) is $9,600,000 and the fair value of NonControlling Interest (NCl) is $2,400,000. The difference between the fair value of PT Sunny's net assets and its book value is allocated to inventory and equipment, the respective book values of which are too low by $300,000 and $800,000, while the remainder is recognized as goodwill. Equipment is amortized over 8 years. Trial balance as of 31 December 2021 of PT Putri (in rupiah) and PT Sunny (in Singapore Dollars) is as follows: 1. Calculate the goodwill recognized upon acquisition 2. Create a table for the translation of PT Sunny's trial balance from Singapore Dollars to Rupiah on 31 December 2022. 3. Create a table for "proof of the translation adjustment" 4. Make a Iable for amortization of price differences. 5. Make journal entries in PT Putri's books and post them to the "Investment in PT Sunny" account to get the final balance. 6. Prepare the consolidation journal entries needed to prepare the consolidation working papers as of December 31, 2022. 7. Prepare consolidated working papers as of December 31, 2022
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