100% purchase, bargain, elimination entries only. On March 1, 2016, Carlson Enterpri...

100% purchase, bargain, elimination entries only. On March 1, 2016, Carlson Enterprises purchases a 100% interest in Entro Corporation for $400,000. Entro Corporation has the following balance sheet on February 28, 2015:

Carlson Enterprises receives an independent appraisal on the fair values of Entro Corporation’s assets and liabilities. The controller has reviewed the following figures and accepts them as reasonable:

1. Record the investment in Entro Corporation.

2. Prepare the value analysis and the determination and distribution of excess schedule.

3. Prepare the elimination entries that would be made on a consolidated worksheet prepared on the date of acquisition.