i need help4

subsidlany was formed. Consequently, no goodwill or other allocation was recorded in connection with the acquisition. Cairns uses the equity method in its internal records to account for its investment in Hamilton. Caims owns 80 percent of the voting stock of Hamiton, Inc. The parent's interest was acquired several years ago on the date that the On January 1, 2014, Hamiton sold $2.100,000 in 10-year bonds to the public at 105. The bonds had a cash interest rate of 9 percent payable every December 31 Cairns acquired 40 percent of these bonds at 96 percent of face value on January 1, 2016. Both companies utilize the straight-line method of amortization Prepare the consolidation worksheet entries to recognize the effects of the intra-entity bonds at each of the following dates. (f no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. December 31, 2016 b. December 31, 2017 December 31, 2018 view transaction list Consolidation Worksheet Entries Prepare Entry B to eliminate accounts stemming from intra-entity bonds and to recognize the gain on the effective retirement of this debt Nobe: Enter debits before credits Date Debit Credit December 31, 2016 Record entry Clear entry view consolidation entries subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with the acquisition. Cairns uses the equity method in its internal records to account for its investment in Hamilton. Cairns owns 80 percent of the voting stock of Hamilton, Inc. The parent's interest was acquired several years ago on the date that the y 1,2014, Hamilton sold $2,100,000 in 10-year bonds to the public at 105. The bonds had a cash interest rate of 9 percent December 31. Cairns acquired 40 percent of these bonds at 96 percent of face value on January 1, 2016. Both payable every companies utilize the straight-ine method of amortization. Prepare the consolidation worksheet entries to recognize the effects of the intra-entity bonds at each of the following dates. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. December 31,2016 b. December 31, 2017 December 31, 2018 view transaction list Consolidation Worksheet Entries Prepare Entry *8 to remove the intra-entity bond accounts that remain on the individual records of both companies. Note: Enter debits before credits. Date Accounts Debit Credit December 31, 2017 Record entry Clear entry view consolidation entries Caims owns 80 percent of the voting stock of Hamilton, Inc. The parent's interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with the acquisition. Cairns uses the equity method in its internal records to account for its investment in Hamilton. payable every December 31. Cairns acquired 40 percent of these bonds at 96 percent of face value on January 1, 2016. Both companies utilize the straight-line method of amortization On January 1, 2014, Hamilton sold $2,100,000 in 10-year bonds to the public at 105. The bonds had a cash interest rate of 9 percent Prepare the consolidation worksheet entries to recognize the effects of the intra-entity bonds at each of the following dates. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. December 31, 2016 b. December 31, 2017 c December 31, 2018 view transaction list Consolidation Worksheet Entries Prepare Entry "B to remove the intra-entity bond accounts that remain on the individual records of both companies Note: Enter debits before credits Date DebitCredit December 31, 2018 Record entry Clear entry view consolidation entries