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December 31, 20X8. that goodwill involved in its acquisition of Saver shares had been impaired and the correct carrying value was $2,600. No additional impairment occurred in 20X9.
Trial balance data for Price and Saver on December 31.20X9, are as follows:
Item
Price Corporation
Saver Company
Debit
Credit
Cash
$ 48,400
$ 41,000
Accounts Receivable
89,000
14,000
Inventory
101,000
24,000
Land
64,000
25,000
Buildings & Equipment
357,000
152,000
Investment in Saver Company
123,000
Cost of Goods Sold
135,000
109,000
Wage Expense
30,000
15,000
Depreciation Expense
20,000
9,000
Interest Expense
7,000
3,000
Other Expenses
18,000
11,000
Dividends Declared
32,000
40,400
Accumulated Depreciation
$ 163,000
$ 39,000
Accounts Payable
42,000
Wages Payable
6,000
Notes Payable
143,000
86,400
Common Stock
196,000
52,000
Retained Earnings
129,100
40,000
Sales
293,000
205,000
Income from Saver Company
54.400
$1,034,500
41,034,500
$443,400
Question a. Prepare all consolidating entries needed to prepare a three-part consolidation worksheet as of December 31, 20X9.
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