\f. Insert in the worksheet "consolidate wp" any line if needed . Complete the worksheets that support the consolidation adjustments for Pet and She as of December 31, 2011 . She bought a bond to Petfor the amount of $100,000 value at 10% of interest with a due date of December 31, 2015 . Parvalue of the bond $100,000 . Interest is paid on December 31 of each year. Use the worksheets shown in the "wp" tab to your advantage. General data Yr Yr Comments XXX XXX Investment Common Stock Retained Earnings Total Inventory undervalue Equipment undervalue AP/AR interco WP 1 XXX Co Initial Investment Account reconciliation working paper As of poo xx, 20xx XX 9% XOX %% 100 Total FMV of . 5 S XXX net assets S Diff FMV Common Stock S Retained Earnings 5 FVM from aquisitiion Inventories sold during the year Equipment-net straightine 5 yrs Goodwill Total Fair value (purchase price) of 80%% interest adquired Implied fair value of Sad ($210.000 / 80%2 100% Book value of Sel's net assets Total excess of fair value over book value non controlling interestDepreciation upon us working paper Asset Book Value Year I 5 years For Your! Yur4 Yer! Internal wade Excess FMV working paper Initial Exc FRY 2011 2012 2013 2014 2015 Inventory Inventory Sold during 20xx Equipment Depreciation 20xx Balance WP2 Pik Investment Account Reconciliation Adjustment Total Pik Sal Total Initial investment xooxoox xx, 20xx Pluss: Income 2011 Sel Less: Dividends declared during 2011 Sel 100% Inventory Sold during year Depreciation expense equipment year 1 Investment balance as of December 31, 2011 Investment account balance as of xooooor xx, 20xx Difference in investment account Adj Net Income From xxxxx Total Pik Sal Pluss: Income 2011 xox Less: Dividends declared during 2011 Sel 100% Inventory Sold during year Depreciation expense equipment year 1 Adj Net Income Income from wu Account Difference in Income from wooo Account Fair value (purchase price) of 90% interest acquired Non Controlling Interest Implied fair value of Sad ($210,000 / 90%)5 262.500 S Book value of Sad's net assets ($150,000+ 50.000) Total excess of fair value over book value ONCOST Goodwill goodwill/[Bargain] EXCESS ALLOCATED S alloc to assets Adjustments Asset distribution Unvervalued Inventory sold 20XX Undervalued Equipment (five yrs straightine depreciation) 5 yrs dep"Interco sales elimination entry 20xx Ref Adjustment and Ref Units XXX Sep Units Units sold XXX Elimination entries Consolidated Income statement Dr Cr Balance Sales o a $ SO COGS #VALUE! #VALUE! a S #VALUE! Gross S #VALUE! #VALUE! #VALUE! Inventory account b #VALUE! Balance qty Units 0 Price/unit #VALUE! #DIV/O! Cost/unit #VALUE! #VALUE! Inventory Balance after sales #VALUE! a. eliminate interco sales Markup remaining inventory #VALUE! b . Eliminate interco profit inventory not sold (100 units) Inventory Inventory account movement: Qty Amount Qty Cost/unit Amount Balance 1 Purchase inventory #VALUE! #VALUE! #VALUE! 2 Sales to customers #VALUE! #VALUE! O #VALUE! 3 Consolidate adj b #VALUE! #VALUE