254 Required ~ ~ ~ ~ ~ ~-….. Part I CoMBINED CoRPORATE ENTITIES AND CoNSOLIDATIONS The trial balances of Silvio Corporation and Jenko Company as of December 31, 2013, were as follows: Silvio Jenko Corporation Company Cash ……………………………………………. . 140,000 205,200 Accounts Receivable …………………………………. . 285,000 110,000 Interest Receivable …………………………………… . 1,500 Notes Receivable ……………………………………. . 50,000 Inventory …………………………………………. . 470,000 160,000 Land …………………………………………….. . 350,000 300,000 Depreciable Fixed Assets ……………………………… . 1,110,000 810,000 Accumulated Depreciation …………………………….. . (500,000) (200,000) Intangibles ………………………………………… . 60,000 Investment in Jenko Company …………………………… . 1,128,000 Accounts Payable …………………………………… . (611,500) (165,000) Note Payable ………………………………………. . (10,000) Interest Payable …………………………………….. . (200) Common Stock ($1 par) ………………………………. . (400,000) Common Stock ($5 par) ………………………………. . (450,000) Paid-In Capital in Excess of Par ………………………….. . (1 ,235,000) (180,000) Retained Earnings, January 1, 2013 ………………………. . (958,500) (470,000) Treasury Stock (at cost) ……………………………….. . 315,000 Sales ……………………………………………. . (1 ,020,000) (500,000) Interest Income ……………………………………… . (1,500) Subsidiary Income …………………………………… . (88,000) Cost of Goods Sold ………………………………….. . 705,000 300,000 Other Expenses …………………………………….. . 200,000 90,000 Totals…
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