Crow Corporation purchased 70 percent of West Company's voting common stock on January 1, 20X5, for $296,100. On that date, the noncontrolling interest had a fair value of $126,900 and the book value of West's net assets was $387,000. The book values and fair values of West's assets and liabilities were equal except for land that had a fair value $14,000 higher than book value. The amount attributed to goodwill as a result of the acquisition is not amortized and has not been impaired.

CROW CORPORATION AND WEST COMPANY Trial Balance Data December 31, 20X9
	Crow Corporation				West Company
Item	Debit		Credit		Debit		Credit
Cash and Receivables	$	99,300			$	103,000
Inventory		207,000				129,000
Land, Buildings, & Equipment (net)		277,000				257,000
Investment in West Company Stock		319,000
Cost of Goods & Services		188,000				138,000
Depreciation Expense		25,000				15,000
Dividends Declared		20,000				5,000
Sales & Service Revenue			$	308,000			$	208,000
Income from Subsidiary				54,000
Accounts Payable				56,000				20,000
Common Stock				196,000				157,000
Retained Earnings				521,300				262,000
Total	$	1,135,300	$	1,135,300	$	647,000	$	647,000

On January 1, 20X9, Crow's inventory contained $50,000 of unrealized intercompany profits recorded by West. West's inventory on that date contained $15,000 of unrealized intercompany profits recorded on Crows books. Both companies sold their ending 20X8 inventories to unrelated companies in 20X9.

During 20X9, West sold inventory costing $48,000 to Crow for $73,000. Crow held all inventory purchased from West during 20X9 on December 31, 20X9. Also during 20X9, Crow sold goods costing $75,000 to West for $125,000. West continues to hold $42,500 of its purchase from Crow on December 31, 20X9. Assume Crow uses the fully adjusted equity method.

Required:

a.

Prepare all consolidation entries needed to complete a consolidation worksheet as of December 31, 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.

Prepare a consolidation worksheet as of December 31, 20X9. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)