Parent Company Subsidiary Company ELIMINATION ENTRIES

ASSETS
debit
Cash
Accounts Receivable 68,400 18,200
Inventories 45,800 32,200
Equipment, net 358,000 80,000
Patents 20,000
Investment in Subsidiary 241,200
Goodwill
Total Assets
Liabilities and Equities
Accounts Payable 8,000 13,200
Bonds Payable 200,000
Common Stock, P10 par 308,000 100,000
Additional Paid in Capital 163,200 30,000
Retained Earnings
NCI
Total Liabilities and equities
ELIMINATION ENTRIES CONSOLIDATED
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