• Prepare the consolidated balance sheet at 12/31/xx by placing the appropriate entries in their respective debit/credit column cells.
• Indicate, in the blank column cell to the left of the debit and credit column cells if the entry is a [C], [E] or [A] or [D] entry.
• Use Excel formulas to derive the Consolidated column amounts and totals.
• Using the "Home" key in Excel, go to the "Styles" area and highlight the [C], [E], [A] and [D]cell entries in different shades.
• Review the grading rubric following this assignment, to understand how you will be graded on this assignment. Reach out to your instructor if you have questions about the assignment.

Thanks for any help!

Assume that a parent company acquires its subsidiary on 1/1/xx, by exchanging 41,500 shares of its $1 par value common stock, with a market value on acquisition date of $36 per share, for all of the outstanding voting shares of the subsidiary. You have been charged with preparing the consolidation of these two entities at 12/31/xx. On acquisition date (1/1/xx), all of the subsidiary's assets and liabilities had fair values equaling their book values except PPE assets are undervalued by $81,000 (depreciation =$5,400 per year), the subsidiary has an unrecorded patent with a fair value of $261,000 (amortization =$32,625 per year) and the parent records $162,000 of goodwill in the transaction