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    Tyasa Putri R - Tugas Akl 1 TM 4

    Uploaded by

    Rayhan Mamet
    1) Pam Corporation acquired a 75% interest in Sun Corporation on January 1, 2016 for $720,000. 2) For the year ended December 31, 2016, Pam Corporation and its 75% owned subsidiary Sun Corporation reported consolidated net income of $285,600. 3) Non-controlling interest's share of Sun Corporation's net income was $18,400.

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    Tyasa Putri R - Tugas Akl 1 TM 4

    Uploaded by

    Rayhan Mamet
    92 views6 pages
    1) Pam Corporation acquired a 75% interest in Sun Corporation on January 1, 2016 for $720,000. 2) For the year ended December 31, 2016, Pam Corporation and its 75% owned subsidiary Sun Corporation reported consolidated net income of $285,600. 3) Non-controlling interest's share of Sun Corporation's net income was $18,400.

    Original Title

    041911535049_TYASA PUTRI R_TUGAS AKL 1 TM 4 (1)

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    1) Pam Corporation acquired a 75% interest in Sun Corporation on January 1, 2016 for $720,000. 2) For the year ended December 31, 2016, Pam Corporation and its 75% owned subsidiary Sun Corporation reported consolidated net income of $285,600. 3) Non-controlling interest's share of Sun Corporation's net income was $18,400.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    92 views6 pages

    Tyasa Putri R - Tugas Akl 1 TM 4

    Uploaded by

    Rayhan Mamet
    1) Pam Corporation acquired a 75% interest in Sun Corporation on January 1, 2016 for $720,000. 2) For the year ended December 31, 2016, Pam Corporation and its 75% owned subsidiary Sun Corporation reported consolidated net income of $285,600. 3) Non-controlling interest's share of Sun Corporation's net income was $18,400.

    Copyright:

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

    lOMoARc PSD|4996518

    Nama : Tyasa Putri Ramadani


    NIM : 041911535049
    TUGAS AKL 1 TM 4

    E4-2

    Perhitungan
    Purchase price 80% interest acquired 10.000.000 controlling non control
    80% 20%

    implied fair value of THEO AB 12.500.000


    Book value THEO AB net assets 10.000.000
    Goodwill 12.500.000

    Non controlling interest share 20% of THEO 300.000


    AB net income
    Beg. Non control interest: 20% of beginning 2.500.000
    implied fair value of THEO AB

    LIAM AB AND SUBSIDIARY CONSOLIDATED WORKPAPER FOR THE YEAR ENDED


    DECEMBER 31, 2014 (IN THOUSANDS)
    Adjusment &
    Eleminations

    Liam Theo

    AB Debit AB Statement
    Income Statement
    Sales $67.000Consolid
    $30.500 $97.500
    Income from Theo AB 1.200 ated - 1.200 0
    Cost of sales -42.000 -25.000 -67.000
    Expenses -21.900 -4.000 -25.900
    Non-controlling interest share 300 -300
    Controlling share of net income $4.300 $1.500 $4.300

    Retained Earnings Statement


    Retained earnings LIAM AB 11.600 11.600
    Retained earnings THEO AB 8.000 8.000 0
    Controlling share of net income 4.300 1.500 4.300
    Dividends -3.000 -500 400
    100 -3.000
    Retained earnings December 31 $12.900 $9.000 12.900
    Balance Sheet
    Cash $800 $600 $1.400
    Account receivable - net 1.300 800 2.100
    Dividends receivable 400 - 400 0
    Inventories 2.600 400 3.000
    Other current assets 1.200 1.800 3.000
    Land 3.000 4.200 7.200
    Buildings - net 3.200 3.600 6.800
    Equipment - net 2.200 2.400 4.600
    Investment in THEO AB 10.800 - 800
    10.000 0
    Goodwill 2.500 2.500
    Total Assets $25.500 $13.800 $30.600

    Account payable $1.000 400 $1.400


    Dividends payable 2.500 500 400 2.600
    Notes payable 4.100 1.900 6.000
    Capital stock, $10 par 5.000 2.000 2.000 5.000
    Retained earnings 12.900 9.000 12.900
    $25.500 13800 $27.900
    Non-controlling interest Jan. 1 2.500
    Non-controlling interest Dec. 31 200 2.700
    Total liabilities and equities 14.400 14.400 $30.600
    E4-3
    Pam Corporation and Subsidiary
    Consolidation Work-papers for the year ended December 31,
    2016
    (in thousands)

    Adjustments and Consolidated


    Pam Sun 75% Eliminations Statements
    Income Statement
    Sales $1,600 $400 $2,000
    Income from Sun 55.2 a 55.2
    Cost of sales 1,000* 200* 1,200*
    Other expenses 388* 104* c 22.4 514.4*
    Consolidated Net Income $ 285.6
    Non-controlling share f 18.4 18.4*
    Controlling share of NI $267.2 $ 96 $ 267.2

    Retained Earnings
    Retained earnings—Pam $720 $720
    Retained earnings —Sun $136 b 136
    Controlling share of NI 267.2✓ 96✓ 267.2
    Dividends 200* 64* a 48
    f 16* 200*
    Retained earnings
    December 31 $787.2 $168 $787.2

    Balance Sheet
    Cash $ 212 $ 60 $ 272
    Accounts receivable 344 80 424
    Dividends receivable
    from Sun 24 e 24
    Inventories 380 40 420
    Note receivable from Pam 20 d 20
    Land 260 120 380
    Buildings—net 680 320 1,000
    Equipment —net 520 200 720
    Investment in Sun 727.2 a 7.2
    b 720
    Patents b 224 c 22.4 201.6
    $3,147.2 $840 $3,417.6

    Accounts payable $ 340 $ 40 $ 380


    Note payable to Sun 20 d 20
    Dividends payable 32 e 24 8
    Capital stock, $10 par 2,000 600 b 600 2,000
    Retained earnings 787.2✓ 168✓ 787.2
    $3,147.2 $840
    Non-controlling interest b 240
    January 1
    Non-controlling interest f 2.4 242.4
    December 31
    1,100 1,100 $3,417.6

    Supporting Calculations

    Sun’s value at acquisition


    Book value at December 31, 2016 $768
    Less: 2016Net income (96)
    Add: 2016Dividends 64
    Book value on January 1, 2016 $736
    Fair value of patents 224
    Sun’s fair value on January 1, 2016 $960

    Purchase price (fair value) of Pam’s 75% share $720


    Non-controlling interest (25%) $240

    Patents have a ten-year life, so amortization is $22,400 per year.

    Sun’s Adjusted Income

    Sun’s net income $96


    Less: Amortization of Patents (22.4)
    Sun’s adjusted income $73.6
    Pam’s 75% share $55.2
    Non-controlling interest 25% share $ 18.4
    E4-4

    Pop Corporation and Subsidiary


    Consolidation Workpapers
    for the year ended December 31, 2016 (in thousands)
    Adjustments and Consolidated
    Pop Son 75% Eliminations Statements
    Income Statement
    Sales $1,600 $400
    Income from Son 72
    Cost of sales 1,000* 200*
    Other expenses 388* 104*
    Consolidated NI
    Noncontrolling share
    Controlling share of NI $ 284 $ 96

    Retained Earnings
    Retained earnings— Pop $ 720
    Retained earnings— Son $136
    Controlling share of NI 284 96
    Dividends 200* 64*

    Retained earnings – Dec 31 $ 804 $168

    Balance Sheet
    Cash $ 236 $ 60
    Accounts receivable 320 80
    Dividends receivable
    from Son 24
    Inventories 380 40
    Note receivable from Pop 20
    Land 260 120
    Buildings— net 680 320
    Equipment— net 520 200
    Investment in Son 744

    $3,164 $840

    Accounts payable $ 340 $ 40


    Note payable to Son 20
    Dividends payable 32
    Capital stock, $10 par 2,000 600
    Retained earnings 804 168
    $3,164 $840

    *Deduct
    lOMoARc PSD|4996518

    Cost = $720,000
    Implied FV = $960,000 (720,000/75%)
    BV of Son = $736,000 (600,000+168,000+64,000-96,000)
    Goodwill = $224,000 (960,000-736,000)

    Step 1.
    Db. Income from Son $72
    Cr. Dividends $48
    Investment in Son $24

    Step 2.
    Db. Capital Stock – Son $600
    Retained Earnings – Son $136
    Goodwill $224
    Cr. Investment in Son $720
    Noncontrolling interest $240

    Step 3.
    -

    Step 4.
    Net income – Son = $96
    (+) Amt. Excess = 0
    Adj Net Income = $96
    Pop = 75% x $136 = $72
    Son = 25% x $136 = $24

    Db. Non controlling share $24


    Cr. Dividends $16 ($64
    x 25%)
    Noncontrolling interest $8

    Step 5.
    Db. N/P to Son $24
    Cr. N/R from Son $24

    Db. D/P to Son $24


    Cr. D/R from Son $24

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