Complete the following partial worksheet for Pat Inc. and Slinger Company for the year acquisition of intercompany bonds 2013. Pat In. and Subsidiary Slinger Company Partial Consolidated Worksheet For Year Ended December 31, 2013 Trial Balance Eliminations and Adjustments Pat Slinger Dr Cr. Interest receivable 8,000 Investment in Slinger bonds 100,898 Interest payable (8,000) Bonds payable (100,000) Premium on bonds payable (448) Interest income* Interest expense* *To be entered Eliminations and Adjustments: (B1) Eliminate the intercompany bonds and the applicable interest and revenue and expense. Record the gain or loss on retirement. (B2) Eliminate the intercompany interest payable and receivable. PLEAS SHOW OR EXPLAIN CALCULATIONS
Complete the following partial worksheet for Pat Inc. and Slinger Company for the year acquisition of intercompany bonds 2013.
Pat In. and Subsidiary Slinger Company
Partial Consolidated Worksheet
For Year Ended December 31, 2013
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Eliminations and Adjustments |
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Pat |
Slinger |
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Cr. |
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Interest receivable |
8,000 |
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Investment in Slinger bonds |
100,898 |
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Interest payable |
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(8,000) |
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Bonds payable |
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(100,000) |
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Premium on bonds payable |
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(448) |
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Interest income* |
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Interest expense* |
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*To be entered
Eliminations and Adjustments:
(B1) Eliminate the intercompany bonds and the applicable interest and revenue and expense. Record the gain or loss on retirement.
(B2) Eliminate the intercompany interest payable and receivable.
PLEAS SHOW OR EXPLAIN CALCULATIONS
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