B: Record Pizza Corp's 80% share of slice company's 20X5 dividend
C: Record the amortiziation of the excess acquisition price
B: Record the amortized excess value reclassification entry
C: Record the Excess Value (differential) reclassification entry
D: Record the entry to eliminate the intercompany accounts
Pizza Corporation acquired 80 percent ownership of Slice Products Company on January 1, 20X1, for $152,000. On that date, the fair value of the noncontrolling interest was $38,000, and Slice reported retained earnings of $44,000 and had $98,000 of common stock outstanding. Pizza has used the equity method in accounting for its investment in Slice. Trial balance data for the two companies on December 31,205, are as follows: Additional Information value. The accumulated depreciation on these assets was $10,000 on the acquisition date. The differential assigned to depreciable assets should be written off over the following 10-year period. There was $13,000 of intercorporate receivables and payables at the end of 205. equired: Prepare all journal entries that Pizza recorded during 205 related to its investment in Slice. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record Pizza Corporation's 80% share of Slice Products Company's 205 income. Note: Enter debits before credits. Prepare all consolidation entries needed to prepare consolidated statements for 205. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries D > PIZZA CORPORATION AND SUBSIDIARY Worksheet for Consolidated Financial Statements Pizza Corporation acquired 80 percent ownership of Slice Products Company on January 1, 20X1, for $152,000. On that date, the fair value of the noncontrolling interest was $38,000, and Slice reported retained earnings of $44,000 and had $98,000 of common stock outstanding. Pizza has used the equity method in accounting for its investment in Slice. Trial balance data for the two companies on December 31,205, are as follows: Additional Information value. The accumulated depreciation on these assets was $10,000 on the acquisition date. The differential assigned to depreciable assets should be written off over the following 10-year period. There was $13,000 of intercorporate receivables and payables at the end of 205. equired: Prepare all journal entries that Pizza recorded during 205 related to its investment in Slice. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record Pizza Corporation's 80% share of Slice Products Company's 205 income. Note: Enter debits before credits. Prepare all consolidation entries needed to prepare consolidated statements for 205. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Consolidation Worksheet Entries D > PIZZA CORPORATION AND SUBSIDIARY Worksheet for Consolidated Financial Statements
