The shareholders' equity section of the Brandt Corporation's balance sheet appeared as follows on December 31:

Assume that Wegner Manufacturing Company owns 80 per cent of the voting shares of Brandt Corporation and paid 11.20 for each share. In general journal form, prepare the entry (including

minority interest) to eliminate Wegner's investment and Brandt's shareholders' equity that would appear on the work sheet used in preparing the consolidated balance sheet for the two firms.
LO 3 Consolidated Balance Sheet with Goodwill

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Ordinary Shares-10 nominal value, 40,000 shares authorised and issued Retained Earnings Total Shareholders' Equity 400,000 48,000 448,000