Parkview Holdings owns 70% of Skyline Corporation.On January 1,2011,Skyline acquires half of the $2,000,000 of bonds originally issued by Parkview on January 1,2006.The bonds were issued at a stated rate of 5% for 10 years,for $1,920,000.Skyline purchased them for $950,000.Assume that both Parkview and Skyline will use the straight-line method for any bond-related amortization.Annual interest is paid on December 31.
Required: Prepare the entries required for the consolidating worksheet for the years ended December 31,2006 through December 31,2016.

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The Answer of Parkview Holdings owns 70% of Skyline Corporation.On January 1,2011,Skyline acquires half of the $2,000,000 of bonds originally issued by Parkview on January 1,2006.The bonds were issued at a stated rate of 5% for 10 years,for $1,920,000.Skyline purchased them for $950,000.Assume that both Parkview and Skyline will use the straight-line method for any bond-related amortization.Annual interest is paid on December 31.
Required: Prepare the entries required for the consolidating worksheet for the years ended December 31,2006 through December 31,2016.

Parkview Holdings Owns 70% of Skyline Corporation