Blake Corporation and Shaw Corporation

Consolidation Workpaper
December 31, 20X4

Item
Sales
Income from Subsisiary
Total Cedits
Depreciation Expense
Other Expense
Total Debits
Net Income Carryforward
Retained Earning Beg.
Net Income Carryforward
Div Declared
Retained Earning End.
Cash
Accounts Receivable
Inventory
Depreciable Assets
Investment in Short

Kenelly
Corp.
200,000
25,000
225,000
25,000
105,000
130,000
95,000
230,000
95,000
40,000
285,000
15,000
30,000
70,000
325,000
195,000

Differential
Debits
635,000
Accounts Payable
50,000
Notes Payable
100,000
Accumulated Depreciation
Common Stock
200,000
Retained Earnings End.
285,000
Credits
635,000

Short
Corp

Eliminating Entries
Debit
Credit

120,000
25,000
120,000
15,000
75,000
90,000
30,000
50,000
30,000
10,000
70,000
5,000
40,000
60,000
225,000

5,000

50,000
10,000

30,000

30,000

15,000
180,000
30,000

330,000
40,000
120,000
5,000
100,000
70,000
330,000

100,000

oration

Consolited
320,000
0
320,000
45,000
180,000
225,000
95,000
230,000
95,000
40,000
285,000
20,000
70,000
130,000
580,000
0
0
800,000
90,000
220,000
5,000
200,000
285,000
800,000

Power Corporation & Best Corporation

Consolidation Workpaper
December 31, 20X4
Power
Corp.

Best
Corp

Sales
COGS
Income from Subsisiary
Total Cedits
Depreciation Expense
Other Expense
Total Debits
N.C.I. Income
Net Income Carryforward
Retained Earning Beg.
Net Income Carryforward
Div Declared

290,000
145,000
25,500
170,500
25,000
70,000
95,000

200,000
114,000

75,500
131,000
75,500
30,000

36,000
48,000
36,000
20,000

Retained Earning End.

Cash
Accounts Receivable
Land
Inventory
Depreciable Assets
Goodwill
Investment in Best

176,500
68,500
85,000
50,000
97,000
350,000

64,000
32,000
14,000
25,000
24,000
15,000

Item

Eliminating Entries
Debit
Credit Consolidated

25,500
86,000
10,000
40,000
50,000

2,000

8500

15,000
5,000

18,000
8,000

111,000

Differential
Debits
761,500
Accounts Payable
51,000
Wages Payable
14,000
Accumulated Depreciation 17,000
Common Stock
200,000
Retained Earnings End.
131,000
Non-Controlling Interest

110,000
15,000
6,000
50,000
60,000
48,000

Credits

179,000

413,000

26,000

10,500
100,500
26,000

2,000
60000
48,000
3,500
33,500

490,000
259,000
0
231,000
37,000
110,000
147,000
8,500
75,500
179,000
75,500
30,000
224,500
100,500
99,000
75,000
121,000
383,000
8,000
0
0
786,500
66,000
20,000
69,000
320,000
224,500
37,000
736,500

Cash
Land
Inventory
Depreciable Assets
Investment in Short

130,000
70,000
210,000
390,000
270,000

Differential
Debits
1,070,000
Accounts Payable
80,000
Notes Payable
200,000
Accumulated Depreciation
Common Stock
400,000
Retained Earnings End.
390,000
Non-Controlling Interest
Credits
1,070,000

70,000
40,000
90,000
220,000

900
20,000

8,900

270,000
20,000
420,000
40,000
100,000

8,900

60,000
220,000

60,000
220,000

420,000

20,000

900
30,000

192,000
130,000
300,000
610,000
0
0
1,232,000
111,100
300,000
0
400,000
390,900
30,000
1,232,000