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Note: Parentheses indicate a credit balance.

Required:

a$.$ Prepare a worksheet to consolidate the separate $2024$ financial statements for Abbey and Bellstar.

b$.$ How would the consolidation entries in requirement $($a$)$ have differed if Abbey had sold a building on January $2,2023,$ with a

$$60,000$$$140,000$ $$100,000$ instead of land, as the problem reports? Assume that the building

had a $10-$year remaining life at the date of transfer.

Complete this question by entering your answers in the tabs below.

Prepare a worksheet to consolidate the separate $2024$ financial statements for Abbey and Bellstar.

Note: Do not round intermediate calculations. For accounts where multiple consolidation entries are required, combine all debit entries into one

amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in

the credit column of the worksheet. Input all amounts as positive values.

ABBEY AND BELLSTAR

Consolidation Worksheet

For the Year Ending December $31,2024$

Consolidation Entries

$\backslash$table$[[,$Accounts$],[$Abbey$,$Bellstar$],[$Debit$,$Credit$],[$Noncontrolling Interest,Consolidated Totals$],[,$Sales$],[$$ $(800000),$$ $(500000)],[$$ $200000,],[,$$ $(1100000)],[35$ oints,Cost of goods sold$],[500000,300000],[12000,210000],[,602000],[$Operating expenses,$100000],[60000,5000],[,],[,],[$Equity in earnings of Bellstar,$84000],[0,],[,],[165000,],[$Separate company net income,$ $(284000)],[$$ $(140000),],[,],[,],[$eBook$,$Consolidated net income$],[,],[,],[,$$ $(333000)],[$To noncontrolling interest,$],[,],[,53200],[53200,],[$Print$,$To Abbey Company$],[,],[,],[,$$ $(279000)],[$References$,$Retained earnings Abbey$(1)/(1)],[$$ $(1116000),],[49000,],[,$$ $1067000],[$Retained earnings Bellstar$(1)/(1),],[620000,620000],[,],[267000,],[$Net income,$284000],[140000,],[36000,],[726000,],[$Dividends declared,$115000],[60000,],[,],[748000,],[$Retained earnings$(12)/(31),$$ $(1285000)],[$$ $(700000),],[,],[,],[$Cash$,$$ $177000],[$$ $90000,],[40000,],[,],[$Accounts receivable,$356000],[410000,],[12000,],[,],[$Inventory$,440000],[320000,],[,],[,],[$Investment in Bellstar,$726000],[,36000],[,],[,],[$Land$,180000],[390000,],[,],[530000,],[$Buildings and equipment $($net$),496000],[300000,],[,],[796000,],[$Trademark$,],[,95000],[5000,],[90000,],[$Total assets,$ $2375000],[$$ $1510000,],[,],[,],[$Liabilities$,$$ $(480000)],[$$ $(400000),40000],[,],[,],[$Common stock,$610000],[320000,320000],[,],[,],[$Additional paid$-$in capital,$],[90000,90000],[,],[,]]$ PLEASE SOLVE AND FILL IN EACH COLUMN ACCORDINGLY