Tugas Personal ke-3

Week 5

Kasus 1
Pruitt Corporation membeli 90% saham Sedbrook Company dengan harga $625.500 pada
tanggal 1 Januari 2012. Retained Earnings Sedbrook Company saat akuisisi sebesar $95.000.
Trial balance sebelum penutupan per tanggal 31 Desember 2016 kedua perusahaan adalah:
Pruitt Sedbrook
Assets
Cash 90.800 96.000
Accounts Receivable 243.300 135.000
Inventory 1/1 165.000 132.000
Investment in Sedbrook Co. 625.500
Other Assets 550.000 480.000
Dividend Declared 110.000 35.000
Purchases 935.000 420.000
Other Expenses 198.000 165.000
Total 2.917.600 1.463.000

Liabilities and Owners’ Equity

Accounts Payable 77.000 36.000
Other Liabilities 120.700 47.000
Common Stock 880.000 600.000
Retained Earnings 1/1 598.400 144.000
Sales 1.210.000 636.000
Dividend Income 31.500 0
Total 2.917.600 1.463.000

Ending Inventory 220.000 144.000

Pada tanggal 1 Januari 2016, inventory Sedbrook Company termasuk $25.000 profit yang dicatat
oleh Pruitt Corporation pada Sales 2015. Selama tahun 2016, Pruitt Corporation melakukan
penjualan intercompany sebesar $250.000 termasuk markup sebesar 20% dari cost. Ending
inventory Sedbrook termasuk persediaan yang dibeli dari Pruitt di tahun 2016 sebesar $60.000.

Diminta:
Buatlah consolidated statements workpaper untuk tahun yang berakhir 31 Desember 2016!
F1314-Merger & Acquisition Accounting & Auditing Impact
Jawab :

Pruitt Corporation and Subsidiary

Consolidated Statement Workpaper
For the Year Ended Dexember 31, 2016

Pruitt Sedbrook Eliminations Non Consolidated

Corporation Company
controlling Balances

Interest

Dr Cr

Income Statement

Sales 1.210.000 636.000 (2) 250.000 1.596.000

Dividend Income 31.500 (5) 31.500

Total revenue 1.241.500 636.000 1.596.000

Cost of goods sold:

Beginning Inventory 165.000 132.000 (4) 25.000 272.000

Purchases 935.000 420.000 (2) 250.000 1.105.000

Cost of goods available 1.100.000 552.000 1.377.000

Less ending inventory 220.000 144.000 (3) 10.000 354.000

Cost of good sold 880.000 408.000 1.023.000

Other expenses 198.000 165.000 363.000

Total cost & expense 1.078.000 573.000 1.386.000

Net/consolidated income 163.500 63.000 210.000

Noncontrolling interest in 6.300 (6.300)

income

Net income to retained 163.500 63.000 291.500 275.000 6.300 203.700

earnings

F1314-Merger & Acquisition Accounting & Auditing Impact

Statement of Retained
Earnings

1/1 Retained earnings :

Pruitt Corporation 598.400 (4) 25.000 (1) 44.100 617.500

Sedbrook Company 144.000 (6) 144.000

Net income from above 163.500 63.000 291.500 275.000 6.300 203.700

Dividends declared

Balance sheet

Cash 90.600 90.600 186.800

Account receivable 243.300 135.000 378.300

Inventory 220.000 144.000 10.000 354.000

Investment in sedbrook 625.500 44.100 669.600

company

Other asset 550.000 480.000 1.030.000

Total assets 1.729.600 855.000 1.949.100

Account payable 77.000 36.000 113.000

Other liabilities 120.700 47.000 167.700

Commont stock

Pruitt Corporation 880.000 880.000

Sedbrook Company 600.000 600.000

Retained earnings from 651.900 172.000 460.500 350.600 2.800 711.200

above

1/1 Noncontroling 74.400 74.400

interest

12/31 Noncontroling 77.200 77.200

interest

Total liabilities & equity 1.729.600 855.000 1.104.600 1.104.600 1.949.100

F1314-Merger & Acquisition Accounting & Auditing Impact

Noncontrolling interest income = 0.10 x $63.000 = $6.300

1. Investment in sedbrook company (0.90 x ($144.000-$95.000)) 44.100

Beginning retained earnings -pruitt co 44.100
2. Sales 250.000
Purchases (cost of goods sold) 250.000
3. Ending inventory-income statement 10.000
Ending inventory (balance sheet) 10.000
(60.000-(60.000/1.2)
4. Beginning retained earnings – Pruitt co 25.000
Beginning inventory (income statement) 25.000
5. Dividend income (35.000 x 0.90) 31.500
Dividend declared 31.500
6. Beginning Retained Earnings – sedbrook co. 144.000
Common stock – sedbrook co 600.000
Investment in sedbrook co ( 625.500+44.100) 669.600
Noncontrolling interest (744.000 x 0.10) 74.400

Kasus 2
Pada tanggal 1 Januari 2012, Perry Co. membeli 80% saham Selby Co. dengan harga $990.000.
Pada saat itu, capital stock Selby sebesar $350.000 dan retained earnings sebesar $375.000.
Fair value aset dan liabilitas Selby Co. sama dengan book valuenya kecuali:
Fair Value Book Value
Inventory 210.000 160.000
Plant and Equipment (10 years) 780.000 630.000

Setengah dari inventory tersebut terjual di tahun 2012, sisanya terjual di tahun 2013.
Pada akhir tahun 2012, Perry Co. masih memiliki persediaan akhir yang dibeli dari Selby Co.
selama tahun 2012 sebesar $60.000. Selby menjual barang dengan harga 25% di atas cost.
Selama tahun 2013, Perry menjual persediaan ke Selby dengan harga $310.000 dengan markup

F1314-Merger & Acquisition Accounting & Auditing Impact

20% dari harga jual. Di akhir tahun 2013, Selby masih memiliki persediaan yang dibeli dari
Perry sebesar $82.000.

Berikut data keuangan tahun 2013 kedua perusahaan:

Perry Selby
Sales 1.400.000 800.000
Dividend Income 20.000 0
Total Revenue 1.420.000 800.000
Cost of Goods Sold:
Beginning Inventory 230.000 145.000
Purchases 900.000 380.000
Cost of Goods Available 1.130.000 525.000
Less: Ending Inventory 450.000 200.000
Cost of Goods Sold 680.000 325.000
Other Expenses 250.000 195.000
Total Cost and Expense 930.000 520.000
Net Income 490.000 280.000

Retained Earnings (1/1) 1.500.000 480.000

Net Income 490.000 280.000
Dividend Declared (50.000) (25.000)
Retained Earnings (31/12) 1.940.000 735.000

Cash 95.000 70.000

Accounts Receivable (net) 302.000 90.000
Inventory 450.000 200.000
Investment in Selby Co. 990.000
Plant and Equipment (net) 850.000 585.000
Other Assets (net) 390.000 230.000
Total Assets 3.077.000 1.175.000

Accounts Payable 75.000 30.000

Other Liabilities 102.000 60.000
Common Stock 960.000 350.000
Retained Earnings 1.940.000 735.000
Total Liabilities and Equity 3.077.000 1.175.000

Diminta:
Buatlah consolidated statement workpaper untuk tahun yang berakhir 31 Desember 2013!

F1314-Merger & Acquisition Accounting & Auditing Impact