Strayten Corp.is a wholly owned subsidiary of Quint Inc.Quint decided to use the initial value method to account for this investment.During 2009,Strayten sold Quint goods which had cost $48,000.The selling price was $64,000.Quint still had one-fourth of the goods on hand at the end of the year.
Required:
Prepare Consolidation Entry *G,which would have to be recorded at the end of 2010.

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The Answer of Strayten Corp.is a wholly owned subsidiary of Quint Inc.Quint decided to use the initial value method to account for this investment.During 2009,Strayten sold Quint goods which had cost $48,000.The selling price was $64,000.Quint still had one-fourth of the goods on hand at the end of the year.
Required:
Prepare Consolidation Entry *G,which would have to be recorded at the end of 2010.