(Module 2) Pazda sold inventory costing $40,000 to its 100%-owned subsidiary, Sazda, for $100,000 in 2006. Sazda resold $70,000 of this inventory for $130,000 in 2006.
Required:
Prepare the consolidation entry or entries required at 12/31/06 under the partial equity method.

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The Answer of (Module 2) Pazda sold inventory costing $40,000 to its 100%-owned subsidiary, Sazda, for $100,000 in 2006. Sazda resold $70,000 of this inventory for $130,000 in 2006.
Required:
Prepare the consolidation entry or entries required at 12/31/06 under the partial equity method.

(Module 2) Pazda Sold Inventory Costing $40,000 to Its 100%-Owned