Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 39 views

    Gina Purdiyanti - 20181211031 Asdos AKL2

    Uploaded by

    gina amsyar
    The document presents consolidated financial statements for Paper Company and its 80% owned subsidiary, Scissor Company. It includes balance sheets, income statements, and statements of retained earnings for each company individually. It then shows elimination entries and consolidated financial statements, eliminating the intercompany investment account and recognizing the non-controlling interest's share. The consolidated statements show total assets of $1.646 million, total liabilities and equity of $1.646 million, revenues of $1.11 million, and net income of $279,400 attributable to the controlling interest.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Gina Purdiyanti - 20181211031 Asdos AKL2

    Uploaded by

    gina amsyar
    39 views6 pages
    The document presents consolidated financial statements for Paper Company and its 80% owned subsidiary, Scissor Company. It includes balance sheets, income statements, and statements of retained earnings for each company individually. It then shows elimination entries and consolidated financial statements, eliminating the intercompany investment account and recognizing the non-controlling interest's share. The consolidated statements show total assets of $1.646 million, total liabilities and equity of $1.646 million, revenues of $1.11 million, and net income of $279,400 attributable to the controlling interest.

    Original Description:

    Original Title

    Gina Purdiyanti - 20181211031 Asdos AKL2.xlsx

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document presents consolidated financial statements for Paper Company and its 80% owned subsidiary, Scissor Company. It includes balance sheets, income statements, and statements of retained earnings for each company individually. It then shows elimination entries and consolidated financial statements, eliminating the intercompany investment account and recognizing the non-controlling interest's share. The consolidated statements show total assets of $1.646 million, total liabilities and equity of $1.646 million, revenues of $1.11 million, and net income of $279,400 attributable to the controlling interest.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    39 views6 pages

    Gina Purdiyanti - 20181211031 Asdos AKL2

    Uploaded by

    gina amsyar
    The document presents consolidated financial statements for Paper Company and its 80% owned subsidiary, Scissor Company. It includes balance sheets, income statements, and statements of retained earnings for each company individually. It then shows elimination entries and consolidated financial statements, eliminating the intercompany investment account and recognizing the non-controlling interest's share. The consolidated statements show total assets of $1.646 million, total liabilities and equity of $1.646 million, revenues of $1.11 million, and net income of $279,400 attributable to the controlling interest.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    Nama : Gina Purdiyanti Tugas Akuntansi Keuangan Lanjutan I

    NIM : 20181211031 Pertemuan ke-3


    Chapter 3 (The Reporting Entity and the Co
    Kelas : AK51R Differential)
    Dosen : Ka Intan Sraswati

    P3-37

    Paper Company Scissor Company


    Dr Cr Dr
    Assets
    Cash $ 191,000 $ 46,000
    Account Receivable $ 140,000 $ 60,000
    Inventory $ 190,000 $ 120,000
    Investment in Scissor $ 350,400 $ -
    Land $ 250,000 $ 125,000
    Buildings and Equipment $ 875,000 $ 250,000
    Cost of Good Sold $ 250,000 $ 155,000
    Depreciation Expense $ 65,000 $ 12,000
    Selling & Administrative Expense $ 280,000 $ 50,000
    Dividends Declared $ 80,000 $ 25,000
    Accumulated Depreciation $ 565,000
    Accounts Payable $ 77,000
    Bonds payable $ 250,000
    Common Stock $ 625,000
    Retained Earnings $ 280,000
    Sales $ 800,000
    Income from Scissor $ - $ 74,400 $ -
    Total $ 2,671,400 $ 2,671,400 $ 843,000

    Book Value Calculations

    Investment
    NCI 20% Common Stock
    Account 80%

    Beginning Balance $ 74,000 $ 296,000 $ 250,000


    (+) Net Income $ 18,600 $ 74,400
    (-) Dividend $ 5,000 $ 20,000 $ -
    Ending Balance $ 87,600 $ 350,400 $ 250,000
    Basic Elimination Entry
    Dr Cr
    Common Stock $ 250,000
    Retained Earnings, Beginning Balance $ 120,000
    Income from Scissor $ 74,400
    NCI in Net Income $ 18,600
    Dividend Declared $ 25,000
    Investment in Scissor $ 350,400
    NCI in Net Asset $ 87,600

    Consolidation Income Statement


    Paper Scissor Eliminations
    Account Company Company Dr
    Sales $ 800,000 $ 310,000
    Cost of Good Sold $ (250,000) $ (155,000)
    Depreciation Expense $ (65,000) $ (12,000)
    Selling & Administrative Expense $ (280,000) $ (50,000)
    Income from Scissor $ 93,000 $ - $ 93,000
    Net Profit $ 298,000 $ 93,000
    NCI in Net Income $ 18,600
    Controlling Interest in Net Income

    Consolidation Retained Earnings


    Paper Scissor Elimination
    Account
    Company Company Dr
    Retained earnings 1st January $ 280,000 $ 120,000 $ 120,000
    Net profit 31st December $ 279,400 $ 93,000 $ 93,000
    Dividends declared $ (80,000) $ (25,000) $ -
    Retained earnings 31st December $ 479,400 $ 188,000 $ 213,000

    Consolidation Balance Sheet


    Paper Company Scissor Company
    Account
    Dr Cr Dr
    Assets
    Cash $ 191,000 $ 46,000
    Account Receivable $ 140,000 $ 60,000
    Inventory $ 190,000 $ 120,000
    Investment in Scissor $ 350,400 $ -
    Land $ 250,000 $ 125,000
    Buildings and Equipment $ 875,000 $ 250,000
    Less : Accumulated Depreciation $ - $ (565,000) $ -
    Total Assets $ 1,996,400 $ (565,000) $ 601,000
    Liabilities and Shareholders Equity
    Accounts Payable $ 77,000
    Bonds payable $ 250,000
    Common Stock $ 625,000
    Retained Earnings $ 479,400
    NCI in NA $ -
    Total Liabilities and Shareholders Equity $ 1,431,400
    Akuntansi Keuangan Lanjutan I
    muan ke-3
    er 3 (The Reporting Entity and the Consolidation of Less-than-Wholly- Owned Subsidiaries with No
    ential)

    Scissor Company
    Cr

    $ 36,000
    $ 27,000
    $ 100,000
    $ 250,000
    $ 120,000
    $ 310,000
    $ -
    $ 843,000

    Retained
    Additional PIC
    Earnings

    $ 120,000 Perhitungan Net Income :


    $ 93,000 $ 93,000
    $ 25,000
    $ - $ 188,000
    Eliminations
    Consolidation
    Cr
    $ 1,110,000
    $ (405,000)
    $ (77,000)
    $ (330,000)
    $ -
    $ 298,000
    $ (18,600)
    $ 279,400

    Elimination
    Consolidation
    Cr
    $ 280,000
    $ 279,400
    $ 25,000 $ (80,000)
    $ 25,000 $ 479,400 footing
    $ 479,400 cross footing

    Scissor Company Elimination


    Consolidation
    Cr Dr Cr

    $ 237,000
    $ 200,000
    $ 310,000
    $ 350,400 $ -
    $ 375,000
    $ 24,000 $ 1,101,000
    $ (36,000) $ 24,000 $ - $ (577,000)
    $ (36,000) $ 24,000 $ 374,400 $ 1,646,000 footing
    $ 1,646,000 cross footing
    $ 27,000 $ 104,000
    $ 100,000 $ 350,000
    $ 250,000 $ 250,000 $ 625,000
    $ 188,000 $ 213,000 $ 25,000 $ 479,400
    $ - $ - $ 87,600 $ 87,600
    $ 565,000 $ 463,000 $ 112,600 $ 1,646,000 footing
    $ 1,646,000 cross footing

    You might also like