Consolidation Worksheet

ABC Group
Consolidation Worksheet
January 1, 2020
ABC Co. XYZ Co. Elimination Entries Consolidated
(Parent) (Subsidiary) (Adjustments) Amounts
ASSETS DR. CR.
Cash 100,000 20,000 120,000
Accounts Receivable 120,000 40,000 20,000 140,000
Inventory 400,000 100,000 500,000
Investment in Subsidiary 560,000 560,000
Prepaid Assets 30,000 10,000 40,000
Building ,net 1,200,000 400,000 140,000 1,740,000
Goodwill 140,000 140,000
TOTAL ASSETS 2,410,000 570,000 2,680,000
LIABILITIES AND EQUITY
Accounts Payable 70,000 90,000 160,000
Total Liabilities
Share Capital 1,000,000 200,000 200,000 1,000,000
Share Premium 350,000 50,000 50,000 350,000
Retained Earnings 990,000 230,000 230,000 990,000
Non-Controlling Interest 180,000 180,000
Total Equity 2,340,000 480,000 2,520,000

TOTAL LIABILITIES AND 2,410,000 570,000 760,000 760,000 2,680,000

EQUITY