Debit Credit 232,800 x × No Transaction Accounts 1 1 Investment in Siedel Retained earnings (Siedel) 2 2 Investment in Siedel Additional paid-in capital (Siedel) ☑ 3 3 Common stock (Siedel) Additional paid-in capital (Siedel) Retained earnings (Siedel) Investment in Siedel Noncontrolling interest in Siedel 4 4 Land Copyrights Investment in Siedel Noncontrolling interest in Siedel сл 5 5 Investment in Siedel Dividends declared 6 6 Amortization expense Copyrights ✓ 4,000 ×
Monterey Company owns a majority voting interest in Del Rey, Inc. On January 1, 2019, Monterey issued $1,000,000 of 6 percent 10-year bonds at $929,764.18 to yield 7 percent. On January 1, 2021, Del Rey purchased all of these bonds in the open market at a price of $885,067.22 with an effective yield of 8 percent. Requirements: Using the template on the “Template” tab in this provided Excel file, complete the following:
In the space provided, prepare amortization schedules for the Monterey Company bonds payable and the Investment in Monterey Bonds for Del Rey, Inc. In the space provided, prepare consolidation worksheet entry “B” required at December 31, 2021 to reflect the effective retirement of the Monterey bonds.
I ONLY NEED ENTERY B - THE CONSOLIDATION WORKSHEET
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