Sales Cost of goods sold Operating expenses Equity in earnings of Bollstar Net income Retained earnings,...

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Sales Cost of goods sold Operating expenses Equity in earnings of Bollstar Net income Retained earnings, 1/1/24 Net income (above) Dividends declared Retained earnings, 12/31/24 Cash Accounts receivable Inventory Investment in Bellstar Land Buildings and equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings, 12/31/24 Abbey Company Bellstar Company $ (858,880) 550,000 158,880 (90,880) $ (248,880) $ (1,166,000) (248,000) 148,880 $ (1,266,880) $174,000 366,880 448,880 813,880 168,880 501,880 $ 2,454,000 $ (548,880) (548,880) (1,266,000) $ (550,000) 350,000 50,000 $ (150,000) $ (645,000) (150,000) 50,000 $ (745,000) $ 60,000 460,000 370,000 440,000 350,000 $ 1,680,000 $ (475,000) (378,880) (98,808) (745,088) Total liabilities and equities Note: Parentheses Indicate a credit balance. Required: $ (2,454,888) $ (1,688,880) 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 s $85,000 book value (cost of $190,000) to Bellstar for $150,000 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. Required A Required B 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. Accounts ABBEY AND BELL STAR Consolidation Worksheet For the Year Ending December 31, 2024 Abbay Bellstar Sales Cost of goods sold Operating expenses Equity in aamings of Bastar Separate company net income Consolidated net income To noncontrolling interest To Abbey Company Retained eamings, Abbey, 1/1 Retained earnings, Ballstar, 1/1 Not income Dividends declared $ (850,000) $ (550,000) 550,000 150,000 (90,000) 350,000 50,000 0 $ (240,000) S (150,000) $ (1,166,000) (240,000) 140,000 (645,000) (150,000) Retained earnings, 12/31 $ (1,266,000) $ 50,000 (745,000) Cash $ 174,000 S 60,000 Accounts receivable 366,000 460,000 Inventory 440,000 370,000 813,000 Land 160,000 440,000 501,000 350,000 Investment in Bellstar Buildings and equipment (net) Trademark Total assets Liabilities Common stock Additional paid-in capital Retained eamings, 12/31 Noncontrolling interest 1/1 Noncontrolling interest 12/31 Total labs and equity $ 2,454,000 $ 1,680,000 $ (548,000) $ (475,000) (640,000) (1,266,000) (370,000) (90,000) (745,000) $ (2,454,000) $ (1,680,000) S Consolidation Entries Debit Credit Noncontrolling Consolidated Interest Totals Show less Sales Cost of goods sold Operating expenses Equity in earnings of Bollstar Net income Retained earnings, 1/1/24 Net income (above) Dividends declared Retained earnings, 12/31/24 Cash Accounts receivable Inventory Investment in Bellstar Land Buildings and equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings, 12/31/24 Abbey Company Bellstar Company $ (858,880) 550,000 158,880 (90,880) $ (248,880) $ (1,166,000) (248,000) 148,880 $ (1,266,880) $174,000 366,880 448,880 813,880 168,880 501,880 $ 2,454,000 $ (548,880) (548,880) (1,266,000) $ (550,000) 350,000 50,000 $ (150,000) $ (645,000) (150,000) 50,000 $ (745,000) $ 60,000 460,000 370,000 440,000 350,000 $ 1,680,000 $ (475,000) (378,880) (98,808) (745,088) Total liabilities and equities Note: Parentheses Indicate a credit balance. Required: $ (2,454,888) $ (1,688,880) 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 s $85,000 book value (cost of $190,000) to Bellstar for $150,000 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. Required A Required B 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. Accounts ABBEY AND BELL STAR Consolidation Worksheet For the Year Ending December 31, 2024 Abbay Bellstar Sales Cost of goods sold Operating expenses Equity in aamings of Bastar Separate company net income Consolidated net income To noncontrolling interest To Abbey Company Retained eamings, Abbey, 1/1 Retained earnings, Ballstar, 1/1 Not income Dividends declared $ (850,000) $ (550,000) 550,000 150,000 (90,000) 350,000 50,000 0 $ (240,000) S (150,000) $ (1,166,000) (240,000) 140,000 (645,000) (150,000) Retained earnings, 12/31 $ (1,266,000) $ 50,000 (745,000) Cash $ 174,000 S 60,000 Accounts receivable 366,000 460,000 Inventory 440,000 370,000 813,000 Land 160,000 440,000 501,000 350,000 Investment in Bellstar Buildings and equipment (net) Trademark Total assets Liabilities Common stock Additional paid-in capital Retained eamings, 12/31 Noncontrolling interest 1/1 Noncontrolling interest 12/31 Total labs and equity $ 2,454,000 $ 1,680,000 $ (548,000) $ (475,000) (640,000) (1,266,000) (370,000) (90,000) (745,000) $ (2,454,000) $ (1,680,000) S Consolidation Entries Debit Credit Noncontrolling Consolidated Interest Totals Show less