The December balance sheets for Pint Corporation and its percentowned subsidiary Saloon Company contained the following summarized amounts:
Pint acquired the shares of Saloon Company on January X On December X assume Pint sold inventory to Saloon during for $ and Saloon sold inventory to Pint for $ Pint's balance sheet contains inventory items purchased from Saloon for $ The items cost Saloon $ to produce. In addition, Saloon's inventory contains goods it purchased from Pint for $ that Pint had produced for $ Assume Saloon reported net income of $ and dividends of $
Required:
a Prepare all consolidation entries needed to complete a consolidated balance sheet worksheet as of December X Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Do not round intermediate calculations
b Prepare a consolidated balanace sheet worksheet as of December x
