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  • Tugas 5 - AKL 1

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    Geroro D'Phoenix
    190 views3 pages
    This document contains information about Pangestu Jalu Bagaskoro, including their name and student ID number. It also contains two accounting exercises. The first exercise lists multiple choice questions about consolidated financial statements. The second exercise asks to prepare schedules calculating income and net income for a parent company and subsidiary for the years 2016-2018. It involves calculating items like unrealized profit and the noncontrolling interest share.

    Original Description:

    E5-1, E5-10 P5-4

    Original Title

    Tugas 5_AKL 1

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    This document contains information about Pangestu Jalu Bagaskoro, including their name and student ID number. It also contains two accounting exercises. The first exercise lists multiple choice questions about consolidated financial statements. The second exercise asks to prepare schedules calculating income and net income for a parent company and subsidiary for the years 2016-2018. It involves calculating items like unrealized profit and the noncontrolling interest share.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    190 views3 pages

    Tugas 5 - AKL 1

    Uploaded by

    Geroro D'Phoenix
    This document contains information about Pangestu Jalu Bagaskoro, including their name and student ID number. It also contains two accounting exercises. The first exercise lists multiple choice questions about consolidated financial statements. The second exercise asks to prepare schedules calculating income and net income for a parent company and subsidiary for the years 2016-2018. It involves calculating items like unrealized profit and the noncontrolling interest share.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 3

    Nama : Pangestu Jalu Bagaskoro

    NIM : F0317079
    E5-1

    1. B
    2. D
    3. A
    4. C
    5. C
    6. A
    7. A
    8. C

    E5-10

    Pop Corporation and Subsidiary

    Consolidated Income Statement

    For the Year Ended December 31, 2018

    (in thousands)

    Sales ($2,000 + $1,000 - $180 intercompany) $2,820

    Cost of sales ($800 + $500 - $180 intercompany -

    $20 unrealized profit in beginning inventory + $30

    unrealized profit in ending inventory (1,130)

    Gross profit 1,690

    Depreciation expense (340)

    Other expenses ($180 + $120) (300)

    Total consolidated income 1,050


    Less: Noncontrolling interest share ($300 + $20 profit

    in beginning inventory - $30 profit in end. inventory) 20% (58)

    Controlling interest share of consolidated net income $992

    Supporting computations

    Cost of investment in Son at January 1, 2017 $ 1,200

    Implied fair value of Son ($1,200 / 80%) $ 1,500

    Book value of Son (1,400)

    Goodwill $100

    P5-4

    1. Prepare schedule showing Pop’s income from Son for the years 2016, 2017, 2018

    Pop’s income form Son 2016 2017 2018

    75% of Net Income of Son $3.600 $4.050 $3.150


    Unrealized profit in Dec 31,2016
    inventory (downstream)
    (2.400x1/2)x100% (1.200) 1.200
    Unrealized profit in Dec 31,2017
    Inventory (upstream)
    (1.200x75%) (900) 900
    Pop’s Income from Son $2.400 $4.350 $4.050

    2. Compute Pop’s net income for the years 2016, 2017, and 2018
    Pop’s net income 2016 2017 2018
    Pop’s separate income $21.600 $20.400 $24.000
    Add: Income from Son 2.400 4.350 4.050
    Pop’s Net Income $24.000 $24.750 $28.050

    3. Prepare a schedule od consolidated net income for Pop Corp. ans Subsidiary for the
    years 2016,2017, and 2018, beginning with separate income of the two affiliates and
    including noncontrolling interest computations.

    Consolidated net income


    Separate incomes of Pop and
    Son combined $26,400 $25,800 $28,200
    Unrealized profit in December 31,
    2016 inventory (1,200) 1,200
    Unrealized profit in December 31,
    2017 inventory      (1,200) 1,200
    Total consolidated income 25,200 25,800 29,400
    Less: Noncontrolling interest share
    2016 $4,800 ´ 25% (1,200)
    2017 ($5,400 - $1,200) ´ 25% (1,050)
    2016 ($4,200 + $1,200) ´ 25% (1,350)

    Controlling share of net income $24.000 $24.750 $28.050

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