Company A acquired 75% of Company B ownership on January 1, 2015 for $96,000. At that date, the fair value of the non-controlling interest was $32,000. The book value of Company Bs net assets at acquisition was $100,000. The book values and fair values of Company Bs assets were equal except for Company Bs Building and Equipment, which was worth $20,000 more than the book value. Buildings and equipment are depreciated on a 10 year basis.

Using the equity method, prepare the necessary eliminating entries and a consolidating worksheet that Company A will make if Company B retains separate legal incorporation and maintain its own accounting systems.

Would somebody help with the following eliminating entries and a consolidating worksheet. Thank you in advance!

Following are the account balances of the Acquisition Company and Acquiree Compnay as of Dec. 31.

	Company A Book Value 12/31	Company B Book Value 12/31
Cash	47,500	21,000
Receivable	70,000	9,000
Inventory	90,000	28,000
Investment in Acquiree	96,375	-
Land	30,000	15,000
Building & Equipment, Net	350,000	150,000
Cost of Goods Sole	125,000	110,000
Depreciation expense	25,000	10,000
Operation expense	42,000	27,000
Interest expense	12,000	4,000
Other expense	13,500	5,000
Dividends declared	30,000	16,000
Accumulated depreciation	145,000	40,000
Accounts payable	40,000	16,000
Wages payable	22,000	9,000
Notes payable	150,000	50,000
Common stock	200,000	60,000
Retained earnings	102,000	40,000
Sales	260,000	180,000
Income from subsidiary	12,375	-