Chapter 06 – Intercompany Inventory Transactions
P6-32 (continued)
Pine
Corp.
Slim
Corp.
Consolidation Entries
DR
CR
Consolidated
Balance Sheet
Cash
105,000
15,000
120,000
AR & Other Receivables
410,000
120,000
900
334,100
90,000
100,000
5,000
Merchandise Inventory
920,000
670,000
3,000
1,587,000
Plant & Equipment (net)
1,000,000
400,000
1,400,000
Investment in Slim Corp.
1,257,000
807,000
0
450,000
Goodwill
500,000
500,000
Total Assets
3,692,000
1,205,000
500,000
1,455,900
3,941,100
AP & Other Liabilities
140,000
305,000
900
249,100
90,000
100,000
5,000
Common Stock
500,000
200,000
200,000
500,000
Retained Earnings
3,052,000
700,000
600,000
1,000
3,052,000
87,900
297,000
10,100
300,000
NCI in NA of Slim Corp.
90,000
140,000
50,000
Total Liabilities & Equity
3,692,000
1,205,000
1,393,900
438,000
3,941,100
