Question: can u show me how to solve it includes step by step for the answer? thank you prepare a consolidation workpapers for Thanks SA and

can u show me how to solve it includes step by step for the answer? thank you

can u show me how to solve it includes step by step

prepare a consolidation workpapers for Thanks SA and subsidiary for the year ended December 31,2014 !

P 7-3 Subsidiary Purchases Parent Bonds The separate trial balance for Thanos SA and Merry SA is 90 percent owned subsidiary for the year ended 2014 is as follows: Debits Thanos SA Merry SA $ 600 400 S 25 S 700 800 S 1,400 S 1,400 S 460 S 700 s 1,000 Cash Accounts receivable Interest receivable Inventory Land Equipment net Building-net Investment in Thanos SA bonds Investment in Merry SA Cost of sales Interest expense Other expenses Dividends S 1,100 S 1,900 S 1,100 S 2,000 0 3,600 S 2,800 S 100 $ 1,100 S 300 S 15,700 S 2,400 0 S 700 100 S 8,985 Total Credits Accounts payable Interest payable 10 percent bonds payable Common stock Retained Earnings Sales Gain on sale of land Gain on sale of equipment Interest income s 1,300 S 50 s 1,000 5,000 S 3,380 S 4,800 0 S 100 S 70 15,700 S 1,000 S 0 S 2,000 S 2,085 $ 3,700 S 200 Total S 8,985 ADDITIONAL INFORMATION 1. Thanos SA acquired Merry SA when the book value of its net identifiable assets equal to the fair value. 2. Intercompany merchandise sale during 2014 by Thanos SA to Merry SA was $800,000 with unrealized profit of S100,000 remained in the ending inventory 3. Thanos SA purchased land from Merry SA with book value of $800,000 for S1,000,000 in 2014. Thano 4. Merry SA purchased equipment from Thanos SA for $700.000 on December 31, 2014. T 5. On January 1. 2014. Merry SA purchased half of Thanos SA's 10 percent SA holds the land until 2015 he gain from selling this equipment was $100.000. outstanding bonds that were originally issued a par for $440.000. The bonds will mature on January 1, 2017. The bonds paid interest every January I and July

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