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Upstream Intercompany Depreciable Asset Transactions

$2023,$ the end of the accounting year, and you are preparing the working paper to consolidate the trial balances of Pearl and Sheik. Pearl still owns the building.

Required

a$.$ Prepare the required eliminating entries for this intercompany building sale for the December $31,2023,$ consolidation working paper.

Enter numerical answers using all zeros $($do not abbreviate answers to millions or thousands$).$

b$.$ What balances does Pearl report in its own trial balance for this building at December $31,2023?$

Use negative signs with answers to indicate a Credit $($Cr$)$ balance.

Enter numerical answers using all zeros $($do not abbreviate answers to millions or thousands$).$

Consider these balances: building, original cost; accumulated depreciation, building; depreciation expense, building. What balances should be reported on the consolidated trial balance?

Use negative signs with answers to indicate a Credit $($Cr$)$ balance.

Enter numerical answers using all zeros $($do not abbreviate answers to millions or thousands$).$

Show how the eliminating entries in part a adjust Pearl's book balances to the correct consolidated balances.

Enter Debit and Credit answers in order as the journal entries appear in part a$.$

Use negative signs in the $"$Dr $($Cr$)"$ columns to indicate a credit balance $($not in the "Credit" column$).$

Enter numerical answers using all zeros $($do not abbreviate answers to millions or thousands$).$

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