Revenue						950,000
Gain on Sale of Land						50,000
Loss on Sale of Equipment						-5,000
Cost of Goods Sold						500,000
Depreciation Expense						100,000
Other Expenses						200,000
Total expenses						800,000
Consolidated Income						195,000
Parent's Equity income from Subsidiary						100,000
Subsidiary Net Income 20x6						-100,000
Consolidated Net Income						195,000
B. Retained Earnings Statement
		Parent's beginning R.E from operations					500,000
		Parent's Income from operations					195,000
		Parent's Dividend to stockholders					-10,000
		Consolidated Retained Earnings					685,000
				12/31/20x6
Cash				150,000
Acct Rec				200,000
Inventories				150,000
Land				25,000
Land				100,000
Buildings and Equipment				500,000
Goodwill				100,000
	Total Debits			1,225,000
Acc Depreciation				200,000
Accts Payable				50,000
Bonds Payable				150,000
Common Stock				200,000
Paid in Capital				125,000
Retained Earnings				500,000
				1,225,000
					Additional Information A. Push Corporation has 100% control of Summer Corporation on 01/02/20x7. B. Push Corporation has $195,000 Consolidated Income for 20x7. C. Push Corporation pays a $10,000 Dividend to stockholders. D. Summer Corporation reports income of $100,000 and pays Dividend of $50,000 in 20x7. E. Push Corporation sells land that it purchased in 20X1 for $50,000 to nonaffiliated for $100,000. F. Summer Corporation purchases additional equipment for 200,000 at end of 20x7. G. Parent, Push Corporation purchases Additional Equipment for $150,000 on June 01, 20x7. H. Common Stock of $10.00 par was issued with 10,000 shares for $100,000 value on Mar, 01 20x7. I. Long Term Bonds were retired at fair market value with cash on Jan 15, 20x7, $150,000. K. Land with a book value of $25,000 was sold for $20,000, a loss of $5,000. L. Increase in Cash and Increase or decrease in cash balance. Done after all entries performed. M. Account Receivable increased $100,000. N. Inventory increased $100,000. O. Increase in Accts Payable $100,000. P. Accumulated Depreciation increased $100,000. Q. Goodwill did not change in year. R. Paid In Capital did not change in year.

						Debit	Credit
Push Corporation Balance Sheet
Dates					12/31/20x6			12/31/20x7
	Cash				150,000		140,000	10,000
	Acct Rec				200,000	100,000		300,000
	Inventories				150,000	100,000		250,000
	Land				25,000		25,000	0
	Land				100,000		50,000	50,000
	Buildings and Equipment				500,000	350,000		850,000
	Good =will				100,000			100,000
		Total Debits			1,225,000			1,560,000
	Accounts Depreciation				200,000		100,000	300,000
	Accts Payable				50,000		100,000	150,000
	Bonds Payable				150,000	150,000		0
	Common Stock				200,000		100,000	300,000
	Paid in Capital				125,000			125,000
	Retained Earnings				500,000	10,000	195,000	685,000
					1,225,000	710,000	710,000	1,560,000

No entry required for cash flow statement. Assumption is $100,000 Goodwill is after Eliminating Entry for Consolidation.
Consolidated Income on
	Retained Earnings
R.E
	Dividend
No entry required for cash flow statement. In Consolidation process, intercompany transactions are removed.
Increase in Cash Land
	Gain on Sale of land
	Land
Additional Equipment
	Acquisition of Equipment
Additional Equipment
	Acquisition of Equipment
Increase in cash flow financing
	Common Stock
Long Term Bonds
	Increase in financing retirement
Increase in financing
Loss on sale of Equipment
	Equipment
Cash at end of cash flow process calculation
	Increase in cash
Increase in Acct Rec
	Acct Rec
Increase in Investment
	increase in inventory
Increase in Accts payable
	Accounts Payable
				Push Corporation and Subsidaries Consolidated Statement of Cash Flows For the Year Ended December 31, 20x7 (Indirect Method) Cash Flows from Operating Activities Consolidated Net Income Noncash expenses, revenues,losses and gains included in income: Depreciation Gain on sale of Land Loss on sale of land Changes in Operating Assets and Liabilities Increase in Acct Recievable Increase in Inventory increase in accts payable Net Cash provided by Operating Activities Cash Flows from Investing Activities Acquistion of Equipment Sale of Land Sale of Land B. Net Cash used in Investing Activities Cash Flows from Financing Activities Dividends Paid Cash paid for Bond Retirement Cash received for Stock Issuance Net Cash used in Financing Activities Net Increase in Cash Cash at the beginning of the Year Cash at the end of the Year