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Latihan Soal Consolidation Worksheet With Discussion

The document presents consolidated financial statements for Cesar and Palace, including income statements, retained earnings statements, and balance sheets. It shows adjustments made to eliminate intercompany transactions and consolidate the statements. Key points include: - Cesar owns 70% of Palace - Adjustments are made to eliminate intercompany sales, dividends, investments, and equity accounts in consolidation - An amortization journal entry is made to allocate the purchase of customer lists over 5 years

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Nicolas Ernesto
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117 views5 pages

Latihan Soal Consolidation Worksheet With Discussion

The document presents consolidated financial statements for Cesar and Palace, including income statements, retained earnings statements, and balance sheets. It shows adjustments made to eliminate intercompany transactions and consolidate the statements. Key points include: - Cesar owns 70% of Palace - Adjustments are made to eliminate intercompany sales, dividends, investments, and equity accounts in consolidation - An amortization journal entry is made to allocate the purchase of customer lists over 5 years

Uploaded by

Nicolas Ernesto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Adjustment &

Cesar Palace Eliminations Consolidated


Statements
Debits Credits
Incomes Statements
Sales $331,900 $48,000 $379,900
Income from Palace $9,100 $9,100 $0
Cost of Goods Sold ($148,000) ($25,000) ($173,000)
Operating Expenses ($72,000) ($8,000) $2,000 ($82,000)
Noncontrolling Interest Share $3,900 ($3,900)
Controlling Share of Net Incomes $121,000 $15,000 $121,000
Retained Earnings Statement
Retained Earnings - Beginning $846,000 $80,000 $80,000 $846,000
Net Incomes $121,000 $15,000 $121,000
Dividend ($9,000) ($4,000) $2,800 ($9,000)
$1,200
Retained Earnings - Ending $958,000 $91,000 $958,000
Balance Sheet
Cash $135,000 $64,000 $199,000
Receivables - Net $227,000 $160,000 $387,000
Inventories $316,000 $86,000 $402,000
Land $80,000 $40,000 $120,000
Plant & Equipment - Net $469,000 $230,000 $699,000
Investment in Palace $146,300 $146,300 $0
Customer List $10,000 $2,000 $8,000
Goodwill $90,000 $90,000
Total Assets $1,373,300 $580,000 $1,905,000
Account Payable $305,300 $469,000 $774,300
Other Liabilities
Capital Stock $110,000 $20,000 $20,000 $110,000
Other Paid-In Capital
Retained Earnings $958,000 $91,000 $958,000
Noncontrolling Interest - Beginning $60,000
Noncontrolling Interest - End $2,700 $62,700
Total Equities $1,373,300 $580,000 $215,000 $215,000 $1,905,000
70% 140000
100% 200000

Income from Palace $15,000 Amortization from customer list


Interest 70% $10,000 useful life 5 years
Cesar will record income $10,500 $2,000 amortization per-year
1,400 1,400 amortization 70% interest of Ces
Income from Palace $9,100

Debit Credit
Eliminasi income dan dividend controlling ineterest
Journal
Income from palace $9,100
Dividend $2,800
Investment in palace $6,300

Eliminasi income dan dividend non controlling interest 30%


Journal
Noncontrolling interest share $3,900
Dividend $1,200
Noncontrolling interest $2,700
Eliminasi Subsidiary equity, elimanasi investment yang dicatatkan induk perusahaan
Journal
Retained earnings $80,000
Capital Stock $20,000
Customer list $10,000
Goodwill $90,000
Investment in palace $140,000
Noncontrolling interest $60,000

$200,000 $200,000

Record amortization from customer list


Journal
Depreciation expense $2,000
Customer list $2,000
Investment $140,000
n from customer list Income from subs $9,100
useful life 5 years Dividend from subs $2,800
amortization per-year Investment year end $146,300
amortization 70% interest of Cesar

Income from Palace $15,000


non controlling Interest 30%
record income $4,500
600
Income from Palace (non-controlli $3,900
$140,000 investment paid for 70%

$110,000 asset/equity acquired 100% fair value


$90,000 goodwill

$200,000 implies fair value from Palace 100%

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