13.12A

Please provide the journal entries below:

I already have most of them except for B and I need the amounts for each.

I also need the consolidation financial worksheet below. Most of it is already answerd, just need you to fill out blanks. Please keep the same format. Thank you

Requlred: a. Prepare a set of consolidating entries, in general journal form, for the entries required to prepare a comprehensive consolidation worksheet (including other comprehensive income) as of December 31, 20X3. (If no entry is requlred for a transoctlon/event, select "No journal entry requlred" In the flrst occount fleld.) Record the basic consolidation entry. Record the other comprehensive income entry. Record the amortized excess value reclassification entry. Record the excess value (differential) reclassification entry. Record the entry to eliminate the intercompany accounts. Palermo Inc. purchased 80 percent of the outstanding stock of Salina Ranching Company, located in Australia, on January 1, 20X3. The purchase price in Australian dollars ( A$ ) was A$200,000, and A$40,000 of the differential was allocated to plant and equipment, which is amortized over a 10-year period. The remainder of the differential was attributable to a patent. Palermo Inc. amortizes the patent over 10 years. Salina Ranching's trial balance on December 31, 20X3, in Australian dollars is as follows: Assume that the Australian dollar (A\$) is the functional currency and that Palermo uses the fully adjusted equity method for accounting for its investment in Salina Ranching. A December 31, 20X3, trial balance for Palermo Inc. follows. 1. Salina Ranching uses average cost for cost of goods sold. Inventory increased by A$20,000 during the year. Purchases were made uniformly during 203. The ending inventory was acquired at the average exchange rate for the year. 2. Plant and equipment were acquired as follows: 3. Plant and equipment are depreciated using the straight-line method and a 10-year life with no residual value. 4. The payable to Palermo is in Australian dollars. Palermo's books show a receivable from Salina Ranching of \$6,480. 5. The 10-year bonds were issued on July 1,203, for A$106,000. The premium is amortized on a straight-line basis. The interest is paid on April 1 and October 1. 6. The dividends were declared and paid on April 1. 7. Exchange rates were as follows