On March 31, 2014, Tobias AG purchased 90 percent of interest in Mark AG for $8,100,000 cash. MarkAG had unrecorded patents on this date for $100,000. The balance sheet summary of Mark AG on March31,...

On March 31, 2014, Tobias AG purchased 90 percent of interest in Mark AG for $8,100,000 cash. MarkAG had unrecorded patents on this date for $100,000. The balance sheet summary of Mark AG on March31, 2014, was as follows (in thousands): Book Value Fair Value Cash $ 1.000,00 $ 1.000,00 Inventories $ 1.600,00 $ 2.000,00 Land $ 3.000,00 $ 4.000,00 Buildings-net $ 2.800,00 $ 2.500,00 Equipment-net $ 3.900,00 $ 4.000,00 Current liabilities $ 900,00 $ 900,00 Notes payable $ 1.800,00 $ 2.000,00 Bonds payable $ 2.400,00 $ 2.000,00 Common stock, $10 par $ 2.000,00 Retained earnings $ 5.200,00 Prepare a schedule to allocate the excess of investment fair value over book value.

Sheet1 P3-3 Allocating excess of investment On March 31, 2014, Tobias AG purchased 90 percent of interest in Mark AG for $8,100,000 cash. Mark AG had unrecorded patents on this date for $100,000. The balance sheet summary of Mark AG on March 31, 2014, was as follows (in thousands): Book ValueFair Value Cash$ 1,000.00$ 1,000.00 Inventories$ 1,600.00$ 2,000.00 Land$ 3,000.00$ 4,000.00 Buildings-net$ 2,800.00$ 2,500.00 Equipment-net$ 3,900.00$ 4,000.00 Current liabilities$ 900.00$ 900.00 Notes payable$ 1,800.00$ 2,000.00 Bonds payable$ 2,400.00$ 2,000.00 Common stock, $10 par$ 2,000.00 Retained earnings$ 5,200.00 Prepare a schedule to allocate the excess of investment fair value over book value.