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Prepare the elimination entries needed to complete

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Reference no: EM132458793

S Company's net income was earned evenly throughout the year. Both companies declared and paid their dividends on December 31, 20X8. P uses the fully adjusted equity method in accounting for its investment in S.

Required:

Question 1: Prepare the elimination entries needed to complete a full consolidation worksheet for 20X8.

Question 2: Prepare a consolidation worksheet for 20X8.

  • Use Excel formulas to make or evidence each of your calculations of all dollar amounts. Do not enter any dollar amounts directly, unless it is unavoidable for obvious reasons. Use the tab function at the bottom of the Excel file to complete the assignment.
  • Prepare and submit one Excel spreadsheet for this assignment.

Requirements:

  1. Show calculations for all questions.
  2. Support the writing portion of the assignment with credible sources.
  3. Use terms, evidence, and concepts from class readings, including professional business language.

Reference no: EM132458793

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