Corporation Stock by sgw19866

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									(P5-40)
b.
                             Porter Corporation and Darla Corporation
                             Consolidated Balance Sheet Workpaper
                                       December 31, 20X4

                                Porter      Darla                  Eliminations             Consol-
           Item                 Corp.       Corp.             Debit            Credit        idated
Cash                             50,300      21,000                                            71,300
Accounts Receivable              90,000      44,000                                           134,000
Inventory                       130,000      75,000                                           205,000
Land                             60,000      30,000                                            90,000
Buildings and Equipment         410,000     250,000                                           660,000
Investment in Down
 Corporation Stock              102,200                                                       102,200
Differential                          -           -                                                 -
Total Debits                    842,500     420,000                                         1,262,500


Accumulated Depreciation        150,000      80,000                                          230,000
Accounts Payable                152,500      35,000                                          187,500
Mortgage Payable                250,000     180,000                                          430,000
Common Stock
 Porter Corporation               80,000                                                       80,000
 Darla Corporation                           40,000                                            40,000
Retained Earnings               210,000      85,000                                           295,000
Noncontrolling Interest               -           -                 -                   -           -
Total Credits                   842,500     420,000                 -                   -   1,262,500

c. Note to Students - You can prepare the balance sheet by entering the numbers from the worksheet or
referencing the cells.




                                              P05-40                                               Page 1
                                 Porter Corporation and Subsidiary
                                   Consolidated Balance Sheet
                                        December 31, 20X4

Cash                                                                         $   -
Accounts Receivable                                                              -
Inventory                                                                        -
Land                                                                             -
Buildings and Equipment                                              $   -
Less: Accumulated Depreciation                                           -       -
Total Assets                                                                 $   -


Accounts Payable                                                             $   -
Mortgage Payable                                                                 -
Stockholders' Equity
 Controlling Interest
  Common Stock                                                       $   -
  Retained Earnings                                                      -
 Total controlling Interest                                              -
 Noncontrolling Interest                                                 -




                                             P05-40                              Page 2

								
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