Consolidating Entries with Journal Entries and Tables. I am having problem balancing out my consolidating entries, so I have an error somewhere in my work. Could you correct my problem?
Sheet1 Advanced Accounting Controlling interest FV2,100,000Controlling interest FV2,100,000 Noncontrolling interest FV1,200,000Noncontrolling interest FV1,200,000 Total FV3,300,000Total FV3,300,000 BV of SMC2,150,000FV of SMC2,750,000 Excess1,150,000Excess550,000 LifeAmortization Patent100,000425,000 Buildings200,0001020,000 Equipment300,000560,000 Goodwill550,000Indefinite Total1,150,000105,000 CINCITotals Fair value of price paid2,100,0001,200,0003,300,000 1/1/16 Fair value of Eagle1,650,0001,100,0002,750,000 Goodwill450,000100,000550,000 Consolidating EntriesConsolidated DES, Inc.SMC, Inc.DRCRNCITotals Revenues(2,400,000)(430,000)(2,830,000) Expenses1,000,000195,000E80,0001,275,000 E25,00025,000 Dividend Income(30,000)-I78,00048,000 Net income(1,430,000)(235,000)(1,482,000) To NCI(52,000)52,000 To CI(1,430,000) Retained earnings 1/1(3,400,000)(1,800,000)S1,800,000(3,400,000) Net income(1,430,000)(235,000)(1,430,000) Dividends paid80,00050,000D30,00020,00080,000 Retained earnings 12/31(4,750,000)(1,985,000)(4,750,000) Current Assets1,300,00050,0001,350,000 Investment in SMC2,100,000-D30,000S1,740,000(237,000) A1297,000 A2330,000 I Patent-650,000A175,000E25,000700,000 Buildings2,220,000850,000A1180,000E20,0003,230,000 Equipment (net)4,335,0002,000,000A1240,000E60,0006,515,000 GoodwillA2550,000550,000 Total assets9,955,0003,550,00012,108,000 Accounts Payable(1,005,000)(115,000)(1,120,000) Notes Payable-(350,000)(350,000) Common Stock(1,800,000)(1,000,000)S1,000,000(1,800,000) NCIS1,160,000 A1198,000 A2220,000 Additional Paid-In Capital(2,400,000)(100,000)100,000(1,578,000)(1,610,000) Retained earnings 12/31(4,750,000)(1,985,000)(4,750,000) Total liabilities and equity(9,955,000)(3,550,000)4,158,0004,080,000(9,630,000) S entry Common Stock1,000,000 Retained earnings 1/11,800,000 Additional Paid-In Capital100,000 Investment in SMC1,740,000 NCI1,160,000 A1 entry Patent75,000 Buildings180,000 Equipment240,000 Investment in SMC297,000 NCI198,000 A2 entry (comes from Table 3 above) Goodwill550,000 Investment in Eagle330,000 NCI220,000 I entry Equity in earnings78,000 Investment in SMC78,000 D entry Investment in SMC30,000 Dividends paid by SMC30,000 E entry Depreciation expense80,000 Amortization Expense25,000 Patent25,000 Buildings20,000 Equipment60,000