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A working paper elimination (in journal entry format) for Pigot Corporation and its wholly owned subsidiary, Soper Company, on December 31, 2005, was as follows:
A working paper elimination (in journal entry format) for Pigot Corporation and its
wholly owned subsidiary, Soper Company, on December 31, 2005, was as follows:
Intercompany Interest Revenue?Pigot ($85,097 x 0.12) 10,212
Intercompany Bonds Payable?Soper 100,000
Discount on Intercompany
Bonds Payable?Soper ($5,335
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