Question: Check my w At December 3 1 , 2 0 4 , Split holds $ 4 2 , 0 0 0 of inventory purchased from
Check my w
At December Split holds $ of inventory purchased from Pea, and Pea holds $ of inventory purchased from Split. Split and Pea sell inventory to each other at cost plus markups of percent and percent, respectively. Assume total sales from Pea to Split were $ and from Split to Pea were $
Required:
a Prepare all consolidation entries needed on December to complete a consolidated balance sheet worksheet. Assume Split earned $ and paid $ in dividends during the year.
b Prepare a consolidated balance sheet worksheet.
c Prepare a consolidated balance sheet in good form.
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