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Pet Corp acquires 80% of She on January 1,2011 for $320,000 in cash She has: Capital stock of $200,000 and a Retained Earning of $100,000
Pet Corp acquires 80% of She on January 1,2011 for $320,000 in cash She has: Capital stock of $200,000 and a Retained Earning of $100,000 In the purchase it was identified that an Equipment was underestimated by $100,000 Detail at the end of the Pet and She period as follows: Combined Income and Retained Earnings Statement for the Year Ended December 31,2011 - 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 Pet for the amount of $100,000 value at 10% - of interest with a due date of December 31,2015 - Par value 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. \begin{tabular}{|l|c|c|} \hline General data & & \\ \hline & Yr & Yr \\ \hline Investment & cox & yoo \\ \hline Common Stock & & \\ \hline Retained Earnings & & \\ \hline Total & & \\ \hline Inventory undervalue & & \\ \hline Equipment undervalue & & \\ \hline AP/AR interco & & \\ \hline & & \\ \hline \end{tabular}
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