The trial balances for Walla Corporation and Au Inc. at December 31, Year 4, just...

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Accounting

The trial balances for Walla Corporation and Au Inc. at December 31, Year 4, just before the transaction described below, were as follows:

Walla Au Inc.
Current assets $ 295,000 $ 205,000
Land 615,000 465,000
Other tangible assets 515,000 285,000
Liabilities 415,000 325,000
Common shares 215,000 65,000
Retained earnings, 1/1/Year 4 615,000 255,000
Revenues 815,000 655,000
Expenses 635,000 345,000

On December 31, Year 4, Walla purchased all of the outstanding shares of Au Inc. by issuing 27,000 common shares with a market value of $30 per share. The carrying amounts of Au Inc.s assets and liabilities were equal to fair value except for the following:

Fair Value
Land $ 515,000
Other tangible assets 330,000
Liabilities 345,000

Required:

What are the balances for the land, other tangible assets, goodwill, investment in common shares, liabilities, common shares, and revenues after the transaction noted above on:

(a) Wallas separate entity financial statements

(b) Au Inc.s separate entity financial statements

(c) Wallas consolidated financial statements

(a) Walla separate (b) Au separate (c) Walla consolidated
Land $ $ $
Other tangible assets
Goodwill
Investment in common shares
Liabilities
Common shares
Revenues

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