Essay
Flintstone Inc.acquired all of Rubble Co.on January 1,2009.Flintstone decided to use the initial value method to account for this investment.During 2009,Flintstone sold to Rubble for $600,000 inventory with a cost of $500,000.At the end of the year 30% of the goods were still in Rubble's inventory.
Required:
Prepare Consolidation Entry TI and Consolidation Entry G for the consolidation worksheet at 12/31/09.
Correct Answer:
Verified
Correct Answer:
Verified
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