Pizza Corporatlon acquired 80 percent ownershlp of Sllce Products Company on January 1, 20X1, for $150,000. On that date, the falr value of the noncontrolling Interest was $37,500, and Slice reported retalned earnlngs of $42,000 and had $98,000 of common stock outstanding. Pizza has used the equity method In accounting for its investment in Slice. Trial balance data for the two companles on December 31, 20X5, are as follows: Pizza slice Products Company Credit Corporation Debit Credit Debit Item 86,000 264,000 81,000 & Receivables Cash Inventory 98,000 Land 90,000 90,000 Buildings & Equipment 504,000 162,000 Investment in Slice Products 186,840 Company 118,000 Cost of Goods Sold 42,000 Depreciation Expense 21,000 11,000 11,000 6,000 Inventory Losses Dividends Declared 48,000 25,200 $ 77,000 Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings S 204,000 58,000 15,000 215,440 129,200 98,000 299,000 313,000 88,000 Sales 204,000 108,000 Income from Slice Products 35,400 Company $1,328,840 $1,328,840 $515,200 $515,200 Additional Information 1. On the date of combination, the falr value of Slice's depreclable assets was $47,500 more than book value. The accumulated depreclation on these assets was $10,000 on the acquisition date. The differentlal assigned to depreclable assets should be written off over the following 10-year perlod. 2. There was $14,000 of Intercorporate recelvables and payables at the end of 20X5. Required: a. Prepare all journal entries that Pizza recorded during 20X5 related to its Investment in Slice. (If no entry is required for a transactlon/event, select "No journal entry required" in the first account fleld.) Consolidation Worksheet Entries A B C Record basic consolidation entry. Note: Enter debits before credits. Event Accounts Debit Credit 1 Record entry Clear entry view consolidation entries Consolidation Worksheet Entries B C D Record the amortized excess value reclassification entry Note: Enter debits before credits. Event Accounts Debit Credit 2 Record entry Clear entry view consolidation entries Consolidation Worksheet Entries C Record the excess value (differential) reclassification entry Note: Enter debits before credits Credit Event Accounts Debit 3 Record entry Clear entry view consolidation entries Consolidation Worksheet Entries