Essay
King Corp.owns 85% of James Co.King uses the equity method to account for this investment.During 2009,King sells inventory to James for $500,000.The inventory originally cost King $420,000.At 12/31/09,25% of the goods were still in James' inventory.
Required:
Prepare the Consolidation Entry TI and Consolidation Entry G for the consolidation worksheet.
Correct Answer:
Verified
Correct Answer:
Verified
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