On January $1,2016,$ Parent Company purchased $90\%$ of the common stock of Subsidiary Company for $$252,000.$ On this date, Subsidiary had total owners' equity of $$240,000$ consisting of $$50,000$ in common stock, $$70,000$ additional paid$-$in capital, and $$120,000$ in retained earnings. On January $1,2016,$ the excess of cost over book value is due to a $$15,000$ undervaluation of inventory, to a $$5,000$ overvaluation of Bonds Payable, and to an undervaluation of land, building and equipment. The fair value of land is $$50,000.$ The fair value of building and equipment is $$200,000.$ The book value of the land is $$30,000.$ The book value of the building and equipment is $$180,000.$

Required: Prepare entries to be made in eliminations & adjustments columns of consolidated worksheet in form of general journal entries. Hint: Determination and distribution schedule may help. No not submit determinations and distribution schedule.