Nama : Shara Sintiawati
NPM : 0120101138
Kelas : F // S1 Akuntansi
Tugas P4-3
a Sintiawati
101138
1 Akuntansi
Workpapers in year of acquisition (goodwill and intercompany transactions)
Pam Corporation acquired a 75 percent interest in Sun Corporation on January 1, 2016.
Financial statements of Pam and Sun Corporations for the year 2016 are as follows (in thousands):
Combined Income and retained earning
Statement for the year ended December 31
Sales
Income From Sun
Cost Of Sales
Other expenses
Net Income
Add: Retained earnings january 1
Deduct : Dividends
Retained earnings December 31
Balance Sheet at December 31
Cash
Account Receivable-Net
Dividends receivable from sun
Inventories
Note Receivable from pam
Land
Buildings-net
Equipment-net
Investment in sun
Total Assets
Account Payable
Note Payable to sun
Dividends Payable
Capital Stock, $10 par
Retained Earnings
Total Equities
Prepare consolidation workpapers for Pam Corporation and Subsidiary for the year ended December 31, 2016
Only the information provided in the financial statements is available; accordingly, your solution will require s
Sun owned unrecorded patents having a fair value of $224,000, and a useful life of 10 years
Answer
Capital Stock $ 600
Retained Earnings $ 168
thousands): Book Value at December 31 2011
Pam Sun Net Income 2011
Dividends 2011
Book Value 1 Jan 2011
$1.600 $400 Fair Value of Patents
55.2 - Sun`s Fair Value Januari 1 2016
-1000 -200
-388 -104 Purchase Price of Pam`s 75% Share
267.2 96
720 136
-200 -64
$787,2 $168
$212 $60
344 80
24 -
380 40
- 20
260 120
680 320
520 200
727.2 -
$3147,2 840
$340 $40
20 -
- 32
2000 600
787.2 168
$3147,2 $840
nded December 31, 2016
ur solution will require some standard assumptions.
Jurnal Akuisisi
1-Jan-16 Share Investment $ 720
$ 768 Cash $ 720
$ -96
$ 64 Jurnal Penyesuaian
$ 736 12-Dec-16 Share Investment $ 55.2
$ 224 Revenue from Share Investment $ 55.2
$ 960
12-Dec-16 Dividends Receivable $ 48
$ 720 Share Investment $ 48
Jurnal Eliminasi
12-Dec-16 Retained Earnings $ 136
Capital Stock $ 600
Patents $ 224
Investment in Sun $ 720
Non Controlling Interest $ 240
12-Dec-16 Income from Sun $ 55.2
Dividends $ 48
Investment in Sun $ 7.2
12-Dec-16 Net Income from NCI $ 18.4
Dividend $ 16
Non Controlling Interest $ 2.4
12-Dec-16 Note Payable to Sun $ 20
Note Receivab lefrom Pam $ 20
12-Dec-16 Dividends Payable $ 24
Dividdends Receivable $ 24
12-Dec-16 Other Expenses $ 22.4
Patents $ 22.4
Elimination
Deskripsi Pam Sun
Debit Credit
Sales $ 1,600 $ 400
Income from Sum $ 55.2 $ 55.2
Cost of Sales $ -1,000 $ -200
Other Expenses $ -388 $ -104 $ 22.4
Net Income drom NCI $ 18.4
Net Income $ 267.2 $ 96
Add : Retained Earnings January 1 $ 720 $ 136 $ 136
Deduct : Dividends $ -200 $ -64 $ 48
$ 16
Retained Earnings December 31 $ 787.2 $ 168 $ 232 $ 64
Cash $ 212 $ 60
Account Receivable - Net $ 344 $ 80
Dividends Receivable from Sun $ 24 $ 24
Inventories $ 380 $ 40
Note Receivable from Pam $ 20 $ 20
Land $ 260 $ 120
Building - Net $ 680 $ 320
Equipment - Net $ 520 $ 200
Investment in Sun $ 727 $ 7.2
$ 720
Patents $ 224 $ 22.4
Total Assets $3,147.2 $ 840
Account Payable $ 340 $ 40
Note Payable to Sun $ 20 $ - $ 20
Dividends Payable $ 32 $ 24
Capital Stock, $10 Par $ 2,000 $ 600 $ 600
Retained Earnings $ 787.2 $ 168
Non Controlling Interest $ 2.4
$ 240
Total Equities $3,147.2 $ 840 $ 1,100 $ 1,100
Consolidated
$ 2,000
$ -
$ -1,200
$ -514.4
$ -18.4
$ 267.2
$ 720
$ -200
$ 787.2
$ 272
$ 424
$ -
$ 420
$ -
$ 380
$ 1,000
$ 720
$ -
$ 202
$ 3,417.6
$ 380
$ -
$ 8
$ 2,000
$ 787.2
$ 242.4
$ 3,417.6
