BUS 474 - Spring 2016 Consolidation Professional Simulation Directions: In this simulation, you will be asked various questions regarding the...

Prepare a consolidation spreadsheet for the year ended December 31, 2105 for Panda and its subsidiary similar to the one shown in Exhibit 5.13 on p. 265 of the textbook (colors not required). Any required consolidation (elimination) entries can be entered directly into the spreadsheet (i.e., there is no need to present the consolidation entries separately in general journal form).

(Note: Ignore income taxes throughout this simulation.)