Tempo Industries is an 80%-owned subsidiary of Dalie Inc. On January 1, 20X2, Dalie leased an asset to Tempo and the following journal entries were made: 
The terms of the lease agreement require Tempo to make five payments of $5,000 each at the beginning of each year. The implicit interest rate used by both Dalie and Tempo is 8%.
Required:
Prepare the eliminations and adjustments required by the intercompany lease on the Figure 5-9 partial worksheet of December 31, 20X2. Key and explain all eliminations and adjustments. 
Definitions:
Specific Goals
Clearly defined, measurable, and time-bound objectives that are designed to guide actions and measure progress.
Feedback
Information given to an individual or system about its performance, intended to guide future improvements or adjustments.
Universality
The quality of being true or applicable in all situations, cultures, or times.
Facial Expressions
Nonverbal cues conveyed by movements of the facial muscles, often reflecting emotions.
Q10: Which of the following statements is correct
Q22: Saunders Corp., which accounts for inventory using
Q29: On January 1, 20X1 Bullock, Inc. sells
Q33: Assume that the capital of an existing
Q34: Apple Inc. purchased a 70% interest in
Q35: Under the goodwill method,<br>A)declines in asset values
Q36: Diamond acquired Heart's net assets. At the
Q37: If the police department purchases a police
Q94: Great Dane Trailers has the following data
Q145: Knox Jewelers issued $1,000,000 of 8% interest