The consolidation worksheet entries for December 31, 2020, and December 31, 2021 is: Debit Common Stock -Abernethy                           $250000; Debit  Additional paid-n capital – Abernethy $50,000; Debit Retained earnings   $431,110; Credit Investment in Abernethy $731,110.
<h3> Consolidation worksheet entries </h3>
December 31, 2020
Entry S
Debit Common Stock -Abernethy                           $250000
Debit  Additional paid-n capital – Abernethy           $50,000
Debit Retained earnings                                           $431,110
($731,110-$250,000-$50,000)
Credit Investment in Abernethy                               $731,110
(Elimination entry for Abernethy common stock)
Entry A           
Debit Goodwill                                             $107,510
Credit Investment in Abernethy                                            $107,510
($731,110-$250,000+$323,600+$50,000)
(To recognize excess acquisition cost as goodwill)
Entry I             
Debit Equity in Earnings of Subsidiary      $129,000
Credit Investment in Abernethy                           $129,000
(Elimination entry for inter-company income for 2020)
Entry D           
Debit Investment in Abernethy                    $16,000
Credit Dividends paid                                               $16,000
(Elimination of inter-company dividend payments)
Entry E            
No Journal Entry Required
(Unamortized goodwill under the partial equity method)
Entry C           
No Journal entry required
(Goodwill unamortized)
December 31, 2021
Entry S
Debit Common Stock – Abernethy                         $250,000
Debit Additional-Paid-in Capital –Abernethy         $50,000
Debit Retained Earnings –Abernethy                        $431,110
($731,110-$250,000-$50,000)
Credit Investment in Abernethy                             $731,110
(Elimination entry of beginning stockholder’s equity balances of Subsidiary)
Entry A
Debit Goodwill                                                         $145,000
Credit Investment in Abernethy                                $145,000
(To record goodwill balance)
Entry I
Debit Equity in Earnings in Subsidiary                   $176,000
Credit Investment in Abernethy                                $176,000
(Elimination of inter-company accrual for the year 2021)
Entry D
Debit Investment in Abernethy                                $38,000
Credit Dividends Paid                                               $38,000
(Elimination of inter-company dividend payments)
Entry E            
No journal entry is required
Therefore the entries is: Debit Common Stock -Abernethy                           $250000; Debit  Additional paid-n capital – Abernethy $50,000; Debit Retained earnings   $431,110; Credit Investment in Abernethy $731,110.
Learn more about  Consolidation worksheet entries here:brainly.com/question/15128084
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