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This is a project for an advanced accounting course and involves adjustments and eliminations

This is a project for an advanced accounting course and involves adjustments and eliminations for a the worksheets of a parent and subsidiary company. The project involves completing the consolidated worksheets on the "Worksheets" tab using the information given on the "Problem" tab. Year 20X3 is given, worksheets for 20X4, 20X5 and 20X6 need to be completed. Required: 1. Complete the worksheets for 20X4-6. 2. Show how the Controlling and Non-controlling shares of Income from S were arrived at in X5 and X6. Additional instructor notes for this project. The case File I sent each one of you uses two sheets. Sheet 1 gives you the major facts needed to solve case and prepare the consolidating worksheets. Sheet 2 is where you find the consolidating worksheets that you were asked to complete. On Sheet 1 there is a reference to Long Term Liabilities (LTLs). In the consolidating worksheets these LTLs are referred to as Notes Payable. They are the same thing.

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