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Price Corporation acquired 100 percent ownership of Saver Company on January 1,208, for $133,000. At...

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Accounting

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Price Corporation acquired 100 percent ownership of Saver Company on January 1,208, for $133,000. At that date, the tair value of Saver's buildings and equipment was $22,000 mere than the book value. Buildings and equipment are depreciated on a 10 -year basis. Although goodwil is not amortized, Price's management concluded at December 31,208, that goodwill involved in its acquisition of Saver shares had been impaired and the correct carrying value was $3,000. Trial balance data for Price and Saver on December 3t. 20xk. are as follows: Required: p. Prepore the following consolidating entries needed to prepare o three-part consolidation worksheet os of December 31,20x8, (ff no entry is required for a transaction/event, select "No journal entry required" in the first account fieid.)

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