Question: I only need help with B & C Planet Corporation acquired 90 percent of Saturn Company's voting shares of stock in 20X1. During 20X4, Planet

I only need help with B & C I only need help with B & C Planet Corporation acquired

20X4, Planet purchased 40,000 Playday doghouses for $24 each and sold 25,000

Planet Corporation acquired 90 percent of Saturn Company's voting shares of stock in 20X1. During 20X4, Planet purchased 40,000 Playday doghouses for $24 each and sold 25,000 of them to $ aturn for $30 each. Saturn sold 18,000 of the doghouses to retail establishments prior to December 31,204, for $45 each. Both companies use perpetual inventory systems. Required: a. Prepare all journal entries Planet recorded for the purchase of inventory and resale to Saturn Company in 204. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Prepare the journal entries Saturn recorded for the purchase of inventory and resale to retail establishments in 204. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Prepare the worksheet consolidation entry(les) needed in preparing consolidated financial statements for 204 to remove the effects of the intercompany sale. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field

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