Consondation vvorksneet

For the Year Ending December $31,2024$How would the consolidation entries in requirement $($a$)$ have differed if Abbey had sold a building on January $2,2023,$ with a $$60,000$

book value $($cost of $$140,000)$ to Bellstar for $$100,000$ instead of land, as the problem reports? Assume that the building had a $10-$year

remaining life at the date of transfer.

Note: Do not round intermediate calculations. If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the

first account field.

Consolidation

Worksheet Entries

$1$

$2$

Prepare Entry ED to remove the excess depreciation for the current year

created by the transfer price.

Note: Enter debits before credits.