1.Prepare the equity method entries related to the investment in Slice Company during 20X8.Prepare the journal entry made by Pie and Slice related to the bonds Pie sold to Slice.

2. Prepare the consolidation entries made by Pie for its investment in Slice Company for December 31, 20X8.

530uit Entries $21 Data Mining Tell me Home Insert Orow Page Layout Formulas Date Review View Analytio Solver Share H24 Quiz 5 Data: +20 Points Balances as of December 31, 20x8 Ple Company Slice Company Hem Debit Credit Debit Credit Cash 40,000 25 000 Accounts Receivable 41 480 13,720 Inventory 120,000 65.000 Buildings and Equipment 500,000 300.000 Investment in Slice Company 101.772 Investment in Pie Bonds 82,100 Cost of Goods Sold 99,800 61.000 Depreciation Expense 25,000 15.000 Interest Expense 5.790 14 000 Dividends Declared 40,000 10.000 Accumulated Depreciation 175,000 75,000 Accounts Payable 68,800 41200 Bonds Payable 80,000 200,000 Premium on Bonds 2,100 Common Stock 200,000 100,000 * Relained Eamings 230,068 49.830 Sales 200,000 114.000 Interest income 5.790 Income from Slice Company 17,874 20 973,8425 973,8425 5858205585820 Additional Information 1. Pie Company acouired 60 percent ownership of Slice Company on January 1, 20x7 at underlying book value At that date the fair value of the noncontrolling interest was equal to 40% of Slice's book value 2 On January 1, 20X7, Ple sold 580,000 per value, 8 percent, tve-year bonde directly to Slice when the market interest rate was 7 percent. The sales price was $83,280. The bonds pay interest annually on 1 December 31 2. Pinuset the early method in accounts..ie investment in Sice 3 I D G INTER