Biology homework help

Biology homework help. On January 1, 2015, Brooks Corporation exchanged $1,183,000 fair-value consideration for all of the outstanding voting stock of Chandler, Inc. At the acquisition date, Chandler had a book value equal to $1,105,000. Chandler’s individual assets and liabilities had fair values equal to their respective book values except for the patented technology account, which was undervalued by $204,000 with an estimated remaining life of 6 years. The Chandler acquisition was Brooks’s only business combination for the year.In case expected synergies did not materialize, Brooks Corporation wished to prepare for a potential future spin-off of Chandler, Inc. Therefore, Brooks had Chandler maintain its separate incorporation and independent accounting information system as elements of continuing value.On December 31, 2015, each company submitted the following financial statements for consolidation. Dividends were declared and paid in the same period. Parentheses indicated credit balances.a.  Show how Brooks determined the following account balances:•  Gain on bargain purchase.•  Earnings from Chandler.•  Investment in Chandler.b.  Prepare a December 31, 2015, consolidated worksheet for Brooks and Chandler.1.(I)Determine the gain on bargain purchase as follows: Compute the book value of (I Inc.: Initial book value + Amount bywhich patent is unduwiued=$1=1o5,ooo+$2o4,ooo41,309,000 Acquisition…

Biology homework help