Black Company and Blue Company

Consolidation Worksheet -- 20x1

Non-
Black Blue Consolidation Entries controlling
Accounts Company Company Debit Credit Interest
Sales 360,000 $ 228,000 $
Expenses (240,000) (132,000)
-
Net income 120,000 $ 96,000 $
Retained earnings, 1/1/x1 480,000 $ 252,000 $
Net income 120,000 96,000
Dividends paid (36,000)
Retained earnings, 12/31/x1 564,000 $ 348,000 $
Current assets 360,000 $ 120,000 $
-
Land 120,000 108,000
Buildings (net) 480,000 336,000
Total assets 960,000 $ 564,000 $
Accounts payable 108,000 132,000
Common stock 192,000 72,000
Additional paid-in capital 96,000 12,000
Retained earnings, 12/31/02 564,000 348,000
Total liabilities and equity 960,000 $ 564,000 $
Black Company and Blue Company
Consolidation Worksheet -- 20x1
Consolidated
Totals
588,000 $
(372,000)
-
216,000 $
732,000 $
216,000
(36,000)
912,000 $
480,000 $
-
228,000
816,000
-
1,524,000 $
240,000
-
-
264,000
108,000
912,000
1,524,000 $
RAND CORP. AND SPAULDING INC.
Consolidation Worksheet -- 2012
Non-
SPAULDING Consolidation Entries controlling
Accounts RAND INC. Debit Credit Interest
Revenues 372,000 $ 108,000 $
Expenses (264,000) (72,000)
Equity in subsidiary earnings 25,000 -
Net income 133,000 $ 36,000 $
Retained earnings, 1/1/12 765,000 $ 102,000 $
Net income 133,000 36,000
Dividends paid (84,000) (24,000)
Retained earnings, 12/31/12 814,000 $ 114,000 $
Current assets 150,000 $ 22,000 $
Investment in Spaulding 242,000 -
Buildings (net) 525,000 85,000
Equipment (net) 389,250 129,000
- -
Total assets 1,306,250 $ 236,000 $
Liabilities 82,250 50,000
Common stock 360,000 72,000
Additional paid-in capital 50,000
Retained earnings, 12/31/06 814,000 114,000
Total liabilities and equity 1,306,250 $ 236,000 $
RAND CORP. AND SPAULDING INC.
Consolidation Worksheet -- 2012
Consolidated
Totals
480,000 $
(336,000)
25,000
169,000 $
867,000 $
(108,000)
759,000 $
172,000 $
242,000
610,000
518,250
-
1,542,250 $
132,250
-
-
432,000
50,000
614,250 $