Workpaper elimination entries Debit a Income from Trojan 59,500 Credit Color of entry Use Bold On...

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Workpaper elimination entries Debit a Income from Trojan 59,500 Credit Color of entry Use Bold On Consolidation Worksheet Explanation Dividends (Trojan) 35,000 Red Investment in Trojan 24,500 b Capital stock (Trojan) 500,000 Retained earnings (Trojan) January 1 100,000 Unamortized excess 100,000 Green Investment in Trojan 490,000 Noncontrolling interest January 1 210,000 c Cost of sales (for inventory items) 5,000 Buildings net 14,000 Equipment-net 21,000 Patents 40,000 Goodwill 20,000 Blue Unamortized excess 100,000 d Depreciation expense 2,000 Black Buildings-net 2,000 e Depreciation expense 7,000 Orange Equipment net 7,000 f Other expenses 1,000 Pink Patents 1,000 g Accounts payable 10,000 h Dividends payable 14,000 i Noncontrolling Interest Share 25,500 Accounts receivable 10,000 Dividends receivable 14,000 Dividends Trojan 15,000 Noncontrolling Interest 10,500 Yellow Grey Dark blue Explain the consolidation entries below and post to the consolidation spreadsheet. Prepare consolidated financial statements from the completed spreadsheet Workpaper elimination entries Debit a Income from Trojan 59,500 Credit Color of entry Use Bold On Consolidation Worksheet Explanation Dividends (Trojan) 35,000 Red Investment in Trojan 24,500 b Capital stock (Trojan) 500,000 Retained earnings (Trojan) January 1 100,000 Unamortized excess 100,000 Green Investment in Trojan 490,000 Noncontrolling interest January 1 210,000 c Cost of sales (for inventory items) 5,000 Buildings net 14,000 Equipment-net 21,000 Patents 40,000 Goodwill 20,000 Blue Unamortized excess 100,000 d Depreciation expense 2,000 Black Buildings-net 2,000 e Depreciation expense 7,000 Orange Equipment net 7,000 f Other expenses 1,000 Pink Patents 1,000 g Accounts payable 10,000 h Dividends payable 14,000 i Noncontrolling Interest Share 25,500 Accounts receivable 10,000 Dividends receivable 14,000 Dividends Trojan 15,000 Noncontrolling Interest 10,500 Yellow Grey Dark blue Explain the consolidation entries below and post to the consolidation spreadsheet. Prepare consolidated financial statements from the completed spreadsheet