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    Quiz 4 2024

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    MANZANO, Isaiah Keith C.
    1) The document shows retained earnings balances for Bowen, Sloch, and Zeek for the acquisition date and as of January 1, 20x7 and December 31, 20x7. 2) It also provides consolidated income statement figures for the parent, non-controlling interest (NCI), and total, including amounts for Sloch, Zeek, and various income/expense line items. 3) Finally, it includes figures related to the purchase of Grebe and Swamp subsidiaries, an intercompany sale from Bowen to Zeek, and the resulting consolidated retained earnings balance.

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    Quiz 4 2024

    Uploaded by

    MANZANO, Isaiah Keith C.
    9 views3 pages
    1) The document shows retained earnings balances for Bowen, Sloch, and Zeek for the acquisition date and as of January 1, 20x7 and December 31, 20x7. 2) It also provides consolidated income statement figures for the parent, non-controlling interest (NCI), and total, including amounts for Sloch, Zeek, and various income/expense line items. 3) Finally, it includes figures related to the purchase of Grebe and Swamp subsidiaries, an intercompany sale from Bowen to Zeek, and the resulting consolidated retained earnings balance.

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    Quiz-4-2024

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    1) The document shows retained earnings balances for Bowen, Sloch, and Zeek for the acquisition date and as of January 1, 20x7 and December 31, 20x7. 2) It also provides consolidated income statement figures for the parent, non-controlling interest (NCI), and total, including amounts for Sloch, Zeek, and various income/expense line items. 3) Finally, it includes figures related to the purchase of Grebe and Swamp subsidiaries, an intercompany sale from Bowen to Zeek, and the resulting consolidated retained earnings balance.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    9 views3 pages

    Quiz 4 2024

    Uploaded by

    MANZANO, Isaiah Keith C.
    1) The document shows retained earnings balances for Bowen, Sloch, and Zeek for the acquisition date and as of January 1, 20x7 and December 31, 20x7. 2) It also provides consolidated income statement figures for the parent, non-controlling interest (NCI), and total, including amounts for Sloch, Zeek, and various income/expense line items. 3) Finally, it includes figures related to the purchase of Grebe and Swamp subsidiaries, an intercompany sale from Bowen to Zeek, and the resulting consolidated retained earnings balance.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 3

    Bowen Sloch (60%) Zeek (80%)

    Retained earning-acquisition date 400,000.00 675,000.00


    Retained earnings — January 1, 20x7……… 1,020,000.00 530,000.00 975,000.00
    Net income for the year………………………. 800,000.00 380,000.00 375,000.00
    Dividends paid…………………………………. - 500,000.00 - 200,000.00 - 100,000.00
    Retained earnings — December 31, 20x7… 1,320,000.00 710,000.00 1,250,000.00

    a. Parent NCI Total


    PNI 800,000.00 800,000.00
    Div Income - 200,000.00 - 200,000.00
    Adj PNI 600,000.00 600,000.00
    SNI: -
    Sloch 228,000.00 152,000.00 380,000.00
    Zeek 300,000.00 75,000.00 375,000.00
    RPBI-US 9,000.00 6,000.00 15,000.00
    RPBI-DS 46,000.00 46,000.00
    UPEI-US - 33,000.00 - 22,000.00 - 55,000.00
    UPEI-DS - 25,000.00 - 25,000.00
    UG-US - 54,000.00 - 36,000.00 - 90,000.00
    RG-US 3,600.00 2,400.00 6,000.00
    RG-DS 14,000.00 14,000.00
    Consolidated Net Income 1,088,600.00 177,400.00 1,266,000.00
    (b) (a) ©
    2 pts 2 pts 2 pts
    (d)
    Retained Earnings-Parent 1,020,000.00
    RPBI-US - 9,000.00
    RPBI-DS - 46,000.00
    Net UG-from 20x5 sale - 322,000.00
    Share in Net Income from Acquisition Date:
    Sloch 78,000.00
    Zeek 240,000.00
    CNI- Parent 1,088,600.00
    Dividends Declared-Parent - 500,000.00
    Consolidated Retained Earnings 1,549,600.00
    2 pts
    Sloch to Bowen (US) Bowen to Zeek (DS) Useful Lif Amort'n

    RPBI 15,000.00 46,000.00


    UPEI 55,000.00 25,000.00
    UG 350,000.00 25.00 14,000.00
    UG 90,000.00 15.00 6,000.00
    20x4 20x5
    Selling Price 100,000.00 350,000.00
    COGS 75,000.00 262,500.00
    Gross Profit 25,000.00 87,500.00

    Grebe 400,000.00
    Swamp 320,000.00
    Inter-Co. Sale- 350,000.00
    RPBI - 12,500.00
    UPEI 10,500.00 (b) 2pts
    (a) 368,000.00 2 pts

    ©
    Sales 350,000.00 1 pt
    COGS 350,000.00

    COGS 10,500.00 1 pt
    Invty 10,500.00

    Retained Earnings 10,000.00 1 pt


    NCI 2,500.00
    COGS 12,500.00

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