• Prepare entry *C to convert parent's beginning retained earnings to full accrual basis.
• Prepare entry S to eliminate stockholders' equity accounts of subsidiary.
• Prepare entry A to recognize allocations attributed to specific accounts at acquisition date.
• Prepare entry I to eliminate the subsidiary income accrual recognized by the parent.
• Prepare entry D to eliminate intra-entity dividend transfers.
• Prepare entry E to recognize current year amortization expense.
• Prepare entry *C to convert parent's beginning retained earnings to full accrual basis.
• Prepare entry S to eliminate stockholders' equity accounts of subsidiary for 2024.
• Prepare entry A to recognize allocations attributed to specific accounts at acquisition date for 2024.
• Prepare entry I to eliminate the subsidiary income accrual recognized by the parent.
• Prepare entry D to eliminate intra-entity dividend transfers.
• Prepare entry E to recognize current year amortization expense.

Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2023 . As of that date, Abernethy has the ollowing trial balance: During 2023 , Abernethy reported net income of $120,500 while declaring and paying dividends of $15,000. During 2024 , Abernethy eported net income of $172,000 while declaring and paying dividends of $40,000. Assume that Chapman Company acquired Abernethy's common stock for $714,650 in cash. As of January 1, 2023, Abernethy's land nad a fair value of $139,200, its buildings were valued at $262,000, and its equipment was appraised at $218,000. Chapman uses the equity method for this investment. Required: Drepare consolidation worksheet entries for December 31, 2023, and December 31, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field