**UPDATE: I found the solution on my own, please don't waste time solving problem for me anymore.
Price Corporation acquired 100 percent ownership of Saver Company on January 1, 20X8, for $122,400. At that date, the fair value of Saver's buildings and equipment was $16,000 more than the book value. Accumulated depreciation on this date was $19,000. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, Prices management concluded at December 31, 20X8, that goodwill involved in its acquisition of Saver shares had been impaired and the correct carrying value was $2,500. No additional impairment occurred in 20X9. Trial balance data for Price and Saver on December 31, 20X9, are as follows:
** I can't seem to figure out which numbers i am missing from my consolidation worksheet below. I think it may have something to do with COGS? I think cogs is 107,000 off but I'm not sure the debits and credits. TIA for the help!
Saver Company Debit Credit $ 39,000 23,000 33,000 34,000 168,000 Item Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in Saver Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from Saver Company Price Corporation Debit Credit 65,500 92,000 104,000 55,000 364,000 136,900 136,000 35,000 25,000 12,000 23,000 33,000 $ 158,000 46,000 10,000 140,000 192,000 190,000 295,000 50,400 $1,081,400 $1,081,400 107,000 20,000 9,000 4,000 16,000 36,400 $ 37,000 11,000 4,000 123, 400 59,000 47,000 208,000 $ 489,400 $ 489,400 Price Corp. Saver Co. DR CR Consolidated $ $ 208,000 $ 295,000 (136,000) (35,000) (25,000) (12,000) (23,000) 50,400 114,400 1,600 503,000 (136,000) (55,000) (35,600) (16,000) (39,000) (20,000) (9,000) (4,000) (16,000) 0 159,000 52,000 53,600 1,600 1,600 $ $ $ $ $ 221,400 $ $ $ $ 47,000 53,600 190,000 114,400 (33,000) 271,400 47,000 159,000 (36,400) 169,600 1,600 36,400 38,000 190,000 221,400 (33,000) 378,400 $ $ $ 100,600 $ $ Income Statement Sales Less: COGS Less: Wage expense Less: Depreciation expense Less: Interest expense Less: Other expenses Income from Saver Co. Net Income Statement of Retained Earnings Beginning balance Net income Less: Dividends declared Ending Balance Assets Cash Accounts receivable Inventory Land Buildings & equipment Less: Accumulated depreciation Investment in Saver Co. Goodwill Total Assets Liabilities & Stockholders' Equity Accounts payable Wages payable Notes payable Common stock Retained earnings Total Liabilities & Equity $ 65,500 92,000 104,000 55,000 364,000 (158,000) 136,900 39,000 23,000 33,000 34,000 168,000 (37,000) 0 0 260,000 104,500 115,000 137,000 89,000 529,000 (179,200) 16,000 19,000 19,000 3,200 136,900 0 2,500 37,500 2.500 797,800 $ 659,400 $ $ $ 159,100 $ $ 46,000 10,000 140,000 192,000 271,400 659,400 11,000 4,000 123,400 59,000 1 69,600 367,000 59,000 100,600 159,600 57,000 14,000 263,400 192,000 378,400 904,800 $ $ $ $ 38,000 38,000 $ Saver Company Debit Credit $ 39,000 23,000 33,000 34,000 168,000 Item Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in Saver Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from Saver Company Price Corporation Debit Credit 65,500 92,000 104,000 55,000 364,000 136,900 136,000 35,000 25,000 12,000 23,000 33,000 $ 158,000 46,000 10,000 140,000 192,000 190,000 295,000 50,400 $1,081,400 $1,081,400 107,000 20,000 9,000 4,000 16,000 36,400 $ 37,000 11,000 4,000 123, 400 59,000 47,000 208,000 $ 489,400 $ 489,400 Price Corp. Saver Co. DR CR Consolidated $ $ 208,000 $ 295,000 (136,000) (35,000) (25,000) (12,000) (23,000) 50,400 114,400 1,600 503,000 (136,000) (55,000) (35,600) (16,000) (39,000) (20,000) (9,000) (4,000) (16,000) 0 159,000 52,000 53,600 1,600 1,600 $ $ $ $ $ 221,400 $ $ $ $ 47,000 53,600 190,000 114,400 (33,000) 271,400 47,000 159,000 (36,400) 169,600 1,600 36,400 38,000 190,000 221,400 (33,000) 378,400 $ $ $ 100,600 $ $ Income Statement Sales Less: COGS Less: Wage expense Less: Depreciation expense Less: Interest expense Less: Other expenses Income from Saver Co. Net Income Statement of Retained Earnings Beginning balance Net income Less: Dividends declared Ending Balance Assets Cash Accounts receivable Inventory Land Buildings & equipment Less: Accumulated depreciation Investment in Saver Co. Goodwill Total Assets Liabilities & Stockholders' Equity Accounts payable Wages payable Notes payable Common stock Retained earnings Total Liabilities & Equity $ 65,500 92,000 104,000 55,000 364,000 (158,000) 136,900 39,000 23,000 33,000 34,000 168,000 (37,000) 0 0 260,000 104,500 115,000 137,000 89,000 529,000 (179,200) 16,000 19,000 19,000 3,200 136,900 0 2,500 37,500 2.500 797,800 $ 659,400 $ $ $ 159,100 $ $ 46,000 10,000 140,000 192,000 271,400 659,400 11,000 4,000 123,400 59,000 1 69,600 367,000 59,000 100,600 159,600 57,000 14,000 263,400 192,000 378,400 904,800 $ $ $ $ 38,000 38,000 $
