Prepare a consolidated Balance sheet and journal entries from the data.
|
Balance Sheet of Big as of 2006
|
|
Particulars
|
Big
|
Little
|
|
Cash and Receivable
|
$146,000
|
$98,000
|
|
Inventory
|
255,000
|
136,000
|
|
Investment in Little
|
345,000
|
|
|
Property, Plant and Equipment
|
959,000
|
328,000
|
|
Goodwill
|
|
|
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Total Assets
|
$1,705,000
|
$562,000
|
|
Liabilities
|
$689,600
|
$71,000
|
|
Minority Interest
|
|
|
|
Common Stock
|
515,000
|
150,000
|
|
Retained Earnings
|
500,400
|
341,000
|
|
Total Liabilities
|
$1,705,000
|
$562,000
|