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    Nama: Nurahma Amalia NIM: 20200070042 Kelas: AK20A

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    edit andrae
    The document provides consolidated financial statements for Pen Corporation and its 90% owned subsidiary Syn Company for the year ended December 31, 2012. It includes additional information on Pen's acquisition of Syn stock in 2011 and the fair value adjustment of Syn's land and unrecorded patents. Students are asked to prepare a working paper of the consolidated balance sheet, income statement, and statement of retained earnings for Pen Corporation and Syn Company as of December 31, 2012.

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    Nama: Nurahma Amalia NIM: 20200070042 Kelas: AK20A

    Uploaded by

    edit andrae
    144 views4 pages
    The document provides consolidated financial statements for Pen Corporation and its 90% owned subsidiary Syn Company for the year ended December 31, 2012. It includes additional information on Pen's acquisition of Syn stock in 2011 and the fair value adjustment of Syn's land and unrecorded patents. Students are asked to prepare a working paper of the consolidated balance sheet, income statement, and statement of retained earnings for Pen Corporation and Syn Company as of December 31, 2012.

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    TUGAS 4 AKL

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    The document provides consolidated financial statements for Pen Corporation and its 90% owned subsidiary Syn Company for the year ended December 31, 2012. It includes additional information on Pen's acquisition of Syn stock in 2011 and the fair value adjustment of Syn's land and unrecorded patents. Students are asked to prepare a working paper of the consolidated balance sheet, income statement, and statement of retained earnings for Pen Corporation and Syn Company as of December 31, 2012.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    144 views4 pages

    Nama: Nurahma Amalia NIM: 20200070042 Kelas: AK20A

    Uploaded by

    edit andrae
    The document provides consolidated financial statements for Pen Corporation and its 90% owned subsidiary Syn Company for the year ended December 31, 2012. It includes additional information on Pen's acquisition of Syn stock in 2011 and the fair value adjustment of Syn's land and unrecorded patents. Students are asked to prepare a working paper of the consolidated balance sheet, income statement, and statement of retained earnings for Pen Corporation and Syn Company as of December 31, 2012.

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    © All Rights Reserved
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    of 4

    Nama : Nurahma Amalia

    NIM : 20200070042

    Kelas : AK20A

    TUGAS

    Separate company financial statements for Pen Corporation and its subsidiary, Syn Company,
    at and for the year ended December 31, 2012, are summarized as follows (in thousands):

    ADDITIONAL INFORMATION
    1. Pen Corporation acquired 13,500 shares of Syn Company stock for $15 per share on January
    1, 2011, when Syn’s stockholders’ equity consisted of $150,000 capital stock and $15,000
    retained earnings.
    2. Syn Company’s land was undervalued when Pen acquired its interest, and accordingly,
    $20,000 of the fair value/book value differential was assigned to land. Any remaining
    differential is assigned to unrecorded patents with a 10-year remaining life.
    3. Syn Company owes Pen $5,000 on account, and Pen owes Syn $5,000 on a note payable.

    SOAL :
    BUAT KERTAS KERJA KONSOLIDASI DARI PEN CORPORATION DAN SUBSIDIARY
    UNTUK AKHIR TAHUN 31 DESEMBER 2012.

    Answer:
    Ownership percentage 13,500/15,000 shares = 90%
    Investment cost (13,500 shares  $15) $202,500
    Implied fair value of Syn ($202,500 / 90%) $225,000
    Book value of Syn 165,000
    Excess fair value over book value $ 60,000

    Excess allocated to Land $ 20,000


    Remainder to patents 40,000
    Excess fair value over book value $ 60,000

    Income from Syn


    Syn’s reported net income $ 24,000
    Less: Patent amortization (4,000)
    Syn’s adjusted income $ 20,000
    Pen’s share of Syn’s income (90%) $ 18,000
    Noncontrolling interest share (10%) $ 2,000

    Investment in Syn December 31, 2012


    Cost January 1, 2011 $202,500
    Pen’s share of the change in Syn’s retained
    ($42,000 - $15,000)  90% earnings 24,300
    Less: Pen’s share (90%) of Patent amortization for 2 years (7,200)
    Investment in Syn December 31 $219,600

    Pen 90% Syn Adjustments and Consolidated


    Eliminations Statement
    Income Statement Sales $ 400 $ 100 $ 500
    Income from Syn 18 a 18
    Cost of sales 250* 50* 300*
    Other expenses 100.6* 26* c4 130.6*
    Consolidated NI $ 69.4
    Noncontrolling share g2 2*
    Controlling share of NI $ 67.4 $ 24 $ 67.4
    Retained Earnings $ 177 $ 177
    Retained earnings — Pen
    Retained earnings — Syn $ 34 b 34
    Net income 67.4 24 67.4
    Dividends 50* 16* a 14.4
    g 1.6 50*
    Retained earnings – Dec $ 194.4 $ 42 $ 194.4
    31

    Balance Sheet Cash $ 18 $ 15 $ 33


    Accounts receivable 80 20 f5 95
    Dividends receivable-- 7.2 d 7.2
    Syn
    Inventories 95 10 105
    Note receivable — Pen 5 e5
    Investment in Syn 219.6 a 3.6
    b 216
    Land 65 30 b 20 115
    Buildings — net 170 80 250
    Equipment — net 130 50 180
    Patents b 36 c4 32
    $ 784.8 $ 210 $ 810
    Accounts payable $ 85.4 $ 10 f5 $ 90.4
    Note payable to Syn 5 e5
    Dividends payable 8 d 7.2 .8
    Capital stock 500 150 b 150 500
    Retained earnings 194.4 42 194.4
    $ 784.8 $ 210
    Noncontrolling interest January 1 b 24
    Noncontrolling interest December 31 g .4 24.4
    281.2 281.2 $ 810

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