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advanced Financial Accounting Excel practice problem in this presentation we will work a practice problem within Excel related to a consolidation process where we will have a parent-subsidiary relationship that parent owning 100% of the subsidiary we will also be dealing with the fair value being different than the book value at the point of the purchase process and intercompany transactions that we will have to eliminate in the consolidation process we will be making the consolidation as of the end of year 1 in other words purchased took place beginning of year 1 were gonna do the consolidation process as of the end of that year get ready to account with advance financial account in here we have our information on the Left were gonna be entering that information into the blue area on the bottom and to the right were gonna have our worksheet on the right where were gonna have our trial balance for P and s then well have our totals and our consolidation or elimination entries back