Equity Method Consolidation Worksheet (MODULE 1)
Complete the following consolidation worksheet assuming that Pubco (1) uses the equity method, (2) all intercompany inventory on hand at 12/31/06 (totaling $21,000) was resold by Subco in 2007 for $31,000. Make year-end adjusting entries in the Pubco or Subco column, as necessary. Show analyses at bottom of this sheet.

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The Answer of Equity Method Consolidation Worksheet (MODULE 1)
Complete the following consolidation worksheet assuming that Pubco (1) uses the equity method, (2) all intercompany inventory on hand at 12/31/06 (totaling $21,000) was resold by Subco in 2007 for $31,000. Make year-end adjusting entries in the Pubco or Subco column, as necessary. Show analyses at bottom of this sheet.