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The following are preliminary financial statements for Bob Co. and Jane Co. for the year...

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Accounting

The following are preliminary financial statements for Bob Co. and Jane Co. for the year ending
December 31,2018 prior to Bob's acquisition of Jane.
On December 31,2018(subsequent to the preceding statements), Bob exchanged 10,000 shares of its $10 par value common stock for all of the outstanding shares of Jane. Bobs stock on that date has a fair value of $60 per share. Bob was willing to issue 10,000 shares of stock because Jane's land was appraised at $204,000. Bob also paid $14,000 to several attorneys and accountants who assisted in creating this combination.
Required
Assuming that these two companies retained their separate legal identities, prepare a consolidation worksheet as of December 31,2018 at date of acquisition. Prepare in Excel.
Steps:
1. Prepare journal entries to record the acquisition on Bobs records.
2. Prepare a post-acquisition (after acquisition) column of accounts for Bob Co.
3. Prepare consolidation journal entries (S) and (A).
4. Prepare a worksheet to produce a consolidated balance sheet as of the acquisition date
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