Eliminations
	Kim Co	Normal Co	DR	CR	Consolidated
Balance Sheet
Cash	$ 55,000	$ 35,000			$ 90,000
Accounts Receivable	$ 90,000	$ 65,000			$ 145,000
Inventory	$ 84,000	$ 80,000			$ 164,000
Buildings & Equipment	$ 400,000	$ 300,000			$ 640,000
Less: Accumulated Depreciation	$ (160,000)	$ (75,000)			$ (160,000)
Investment in Normal Company Stock	$ 320,000				$ -
Investment in Normal Company Bonds	$ 50,000				$ -
Goodwill					$ 20,000
Total Assets	$ 839,000	$ 405,000			$ 899,000
Accounts Payable	$ 50,000	$ 20,000			$ 60,000
Bonds Payable	$ 200,000	$ 100,000			$ 250,000
Common Stock	$ 300,000	$ 150,000			$ 300,000
Capital in Excess of Par		$ 140,000			$ -
Retained Earnings	$ 289,000	$ (5,000)			$ 289,000
Total Liabilities & Equity	$ 839,000	$ 405,000			$ 899,000

This consolidation worksheet was prepared on the date that Kim Company acquired 100% of the outstanding

stock of Normal Company. The amounts in the Consolidated column are correct. You are to determine the

elimination entries that were made when the worksheet was completed. Please note: you are to USE EXCEL

correctly in order to get full credit for this assignment. YOU MUST PROVIDE AN EXPLANATION FOR EACH

ELIMINATION ENTRY. DO NOT "NET" ANY OF THEM. THIS MEANS THAT IN ADDITION TO COMPLETING THE

WORKSHEET, YOU MUST ALSO SUBMIT THE ELIMINATION ENTRIES IN GENERAL JOURNAL FORMAT.

You may have to insert row(s) in the worksheet in order to correctly complete it.