NAMA FARAH NUR LAILATUN NIKMAH

NIM 175020300111045
NIM Akuntansi Keuangan Lanjutan 2 - CA
NO ABSEN5

TUGAS P5.1
Acquisition date 1 Januari 20x2
Percent
Investment cost
Investment cost 70% 196,000
FV of NCI 30% 84,000
Total Fair Value 100% 280,000
Book value of Net aset 100% 200,000
Excess of FV over BV 80,000
Allocation of FV diff. 2,012
Building 10 40,000 - 4,000
40,000
DTL 20% - 8,000 800
32,000
Goodwill 48,000 - 9,600
Goodwill N (84.000-(30%*232.00 14,400 - 2,880

CJE1 Elimination of investment in in WALL

Dr Share capital 160,000
Dr Retained earnings 40,000
Dr Building 40,000
Dr Goodwill 48,000
Cr Deferred tax liability (DTL) 8,000
Cr Investment in S Co 196,000
Cr Non-controlling interests 84,000
288,000 288,000

CJE2 Allocate share of post-acq RE to NCI

Dr Opening RE 18,000
Cr NCI 18,000
RE at 1 Jan 20x3 100,000
RE at date of acquisition 40,000
Change in RE 60,000
NCI's share 18,000

CJE3 Amortization of Past and present fixed aset fv differential Past

Dr Opening RE 2,800 Dr Opening RE
Dr NCI 1,200 Dr NCI
Dr Depreciation exp 4,000
Cr Accumulated amortization of fixed ase 8,000 Present
Dr Depreciation exp

CJE4 Tax effects of amortization of past & present fixed aset fv differential Past
Dr Deferred tax liability(DTL) 1,600 Dr DTL
 Cr Opening RE 560
Cr NCI 240
Cr Tax expense 800 Present
Dr DTL

CJE5 Past Impairment of Goodwill

Dr Opening RE 6,720
Dr NCI 2,880
Cr Goodwill 9,600

CJE6 Unrealized profit adjustment from upstream sales of Inventory Begining Inventory-->s
Dr RE 22,400 Dr RE
Dr NCI 9,600 Dr NCI
Cr Cost of sales 18,000
Cr Inventory 14,000 Ending Inventory-->un
Dr Cost of Sales

CJE7 Tax effect on unrealized profit from upstream sales Ending Inventory-->un
Dr Tax expense 3,600 Dr DTA
Dr Deffered Tax Aset (DTA) 2,800
Cr RE 4,480 Begining Inventory-->s
Cr NCI 1,920 Dr Tax expense

CJE8 Allocation of unrealized profit -->realized trough depreciation To eliminate the unrea
Downstream sales Dr RE
Dr RE 28,000
Cr Depreciation expense of FA 4,000
Cr Building 24,000 Allocation of the unrea
Gain on Sales of FA (down stream) : Dr Accumulated depre
Sales 64,000
Cost price (10 years 40,000 Allocation of the unrea
Acc depreciation 8,000 Dr Accumulated depre
Book value 32,000
Gain on sales FA 32,000

Tax effect of unrealize

CJE9 Tax effect of CJE7 Dr DTA
Dr DTA 4,800
Dr tax exp 800 Tax effect of unrealize
Cr RE 5,600 Dr RE
Fire Wall Adjustment
 Cost 10 40,000 64,000 - 24,000 Tax effect of unrealize
Acc Depreciation 8,000 - 8,000 Dr Tax expense-deprec
Depreciation expense/year 4,000 8,000 - 4,000
Profit on sales of FA 32,000 - 32,000
Tax on profit 6,400 6,400

CJE10 Adjustment from downstream sales Intra group transaction

Dr Sales 180,000 Dr Sales
Cr Cost of sale 144,000
Cr Inventory 36,000 Unrealized profit-from
Dr Cost of sales

CJE11 Tax effect of CJE10

Dr DTA 7,200
Cr Tax expense 7,200

CJE12 Allocate share of current income to NCI

Dr Income to NCI 17,760 NCI :
Cr NCI 17,760 1 CJE1
Profit 48,000 2 CJE2
Amort. FA FV diff - 4,000 3 CJE3
Tax effect on FA FV diff 800 4 CJE4
Realized Profit 2012 32,000 5 CJE5
Unrealized Pofit 2013 - 14,000 6 CJE6
Tax effect on profit - 3,600 7 CJE7
Adjusted NPAT 59,200 8 CJE12
NCI share(30%) 17,760 9 CJE13

Balance of
CJE13 Eliminate dividends declared by S Co
Dr Dividend income 21,000
Dr Non-controlling interests 9,000
Cr Dividend declared 30,000
 2013 Bal of FV diff
- 4,000 32,000

800 - 6,400

38,400
11,520

Dr Opening RE 2,800
1,200
Cr Acc amort. Fixed aset fv diff 4,000

Dr Depreciation exp 4,000

Cr Acc amort. Fixed aset fv diff 4,000

800
 Cr Opening RE 560
Cr NCI 240

800
Cr Tax exp 800

RE 96,000
RE 96,000
Begining Inventory-->sales-->realized profit COS 32,000
22,400 INV 32,000
9,600
Cr Cost of Sales 32,000
Ending Inventory-->unrealized profit 20x3
Dr Cost of Sales 14,000
Cr Inventory 14,000 42000/96000*32000

Ending Inventory-->unrealized profit

2,800
Cr Tax expense 2,800
Begining Inventory-->sales-->realized profit
Dr Tax expense 6,400
Dr RE 4,480
Dr NCI 1,920

To eliminate the unrealized profit of FA downstream sale at 20x2

32,000
Cr Accumulated depreciation FA 8,000
Cr Building 24,000
Allocation of the unrealized profit of FA downstream sales-->realized trough depreciation (20x2)
Dr Accumulated depreciation FA 4,000
Cr RE 4,000
Allocation of the unrealized profit of FA downstream sales-->realized trough depreciation (20x3)
Dr Accumulated depreciation of FA-ex DSS 4,000
Cr Depreciation expense of FA 4,000

Tax effect of unrealized profit-downstream sales of FA

6,400
Cr RE 6,400
Tax effect of unrealized profit-->realized trough depreciation 20x2
800
Cr DTA 800
Tax effect of unrealized profit-->realized trough depreciation 20x3
Dr Tax expense-depreciation 800
Cr DTA 800

Intra group transaction-downstream sales of merchandise 20x3

180,000
Cr Cost of sales 180,000
Unrealized profit-from downstream sales(ending inventory 20x3)
Dr Cost of sales 36,000
Cr Inventory 36,000

ANALYTICAL CHECK

Debit Kredit NCI :

84,000 1 SC 160,000
18,000 RE 118,000
1,200 278,000
240 NCI 30% 83,400
2,880
9,600 2 Unamort. FV diff.
1,920 FA net of 32,000
17,760 Inv (not) - 14,000
9,000 Total 18,000
DTL (20%) 3,600
22,680 121,920 14,400
99,240 NCI 14,400 30% 4,320
121,920 121,920
3 Unimpaired Goodwill : 11,520
99,240
 Analytical Check on The NCI in WALL as at 31 December 20x3

NCI
DEBIT KREDIT
CJE3 $ 1,200 1/01/20X2 $ 84,000
CJE5 $ 2,880 CJE2 $ 18,000
CJE6 $ 9,600 CJE4 $ 240
CJE13 $ 9,000 CJE7 $ 1,920
CJE12 $ 17,760

$ 22,680 $ 121,920
Balance of NCI $ 99,240
$ 121,920 $ 121,920

NCI :
1 SC 160,000
RE 118,000
278,000
NCI 30% 83,400

2 Unamort. FV diff.
FA net of Tax 32,000
Inv (not) - 14,000
Total 18,000
DTL (20%) 3,600
14,400
NCI 14,400 30% 4,320

3 Unimpaired Goodwill : 11,520

Balance of NCI 99,240
 CONSOLIDATION WORKSHEET FOR THE YEAR ENDED 31 DECEMBER 20X3

Consolidation Income Statement

For the Year Ended 31 December 20x3
FIRE WALL Combined

Sales $ 520,000 $ 250,000 $ 770,000

Cost of sales $ -372,000 $ -159,600 $ -531,600
Gross Profit/ Operating Income $ 148,000 $ 90,400 $ 238,400
Other expense:
Depreciation Expense $ -40,000 $ -30,000 $ -70,000
Interest Expense $ -32,000 $ -10,400 $ -42,400
other expense $ -44,850 $ -52,000 $ -96,850
Other income $ 79,250 $ 50,000 $ 129,250
Dividen income from WALL $ 21,000 $ 21,000
Income before tax $ 131,400 $ 48,000 $ 179,400
Tax Expense (20%) $ -26,280 $ -9,600 $ -35,880
Net Profit After Tax $ 105,120 $ 38,400 $ 143,520
Income to NCI
profit after NCI $ 105,120 $ 38,400 $ 143,520

Retained Earnings, 1 Januari 20x3 $ 241,600 $ 100,000 $ 341,600

Dividend declared $ -60,000 $ -30,000 $ -90,000
Retained Earnings, 31 December 20x3 $ 286,720 $ 108,400 $ 395,120

Consolidated Statement of Financial Position

As at 31 December 20x3
FIRE WALL Combined

ASSET
Cash $ 19,800 $ 3,200 $ 23,000
Accounts receivable $ 32,000 $ 38,000 $ 70,000
Investment in WALL at cost $ 196,000
Deffered tax Asset
Inventory $ 330,000 $ 170,000 $ 500,000
Land $ 160,000 $ 80,000 $ 240,000
Buildings and equipment $ 680,000 $ 520,000 $ 1,200,000
Accumulated Depreciation $ -280,000 $ -160,000 $ -440,000
Goodwill
Total Asset $ 1,137,800 $ 651,200 $ 1,593,000

LIABILITY
Account payable $ 184,800 $ 70,000 $ 254,800
Bonds payable $ 400,000 $ 300,000 $ 700,000
Bond premium $ 3,200 $ 3,200
Deferred Tax Liability
Total Liability $ 584,800 $ 373,200 $ 958,000
EQUITY
Share Capital $ 240,000 $ 160,000 $ 400,000
Retained Earnings $ 286,720 $ 108,400 $ 395,120
Total Equity $ 526,720 $ 268,400 $ 795,120
Total Liability and Equity $ 1,111,520 $ 641,600 $ 1,753,120
D 31 DECEMBER 20X3

ent
20x3
Consolidation adjusment
Consolidated
Dr Cr
$ 180,000 $ 590,000
$ 162,000 $ -369,600
$ 220,400

$ 4,000 $ 4,000 $ -70,000

$ -42,400
$ -96,850
$ 129,250
$ 21,000 $ -
$ 140,400
$ 4,400 $ 8,000 $ -32,280
$ 108,120
$ 17,760 $ -17,760
$ 90,360

$ 117,920 $ 10,640 $ 234,320

$ 30,000 $ -60,000
$ 345,080 $ 214,640 $ 264,680

Position

Consolidation adjusment
Consolidated
Dr Cr

$ 23,000
$ 70,000
$ 196,000 $ -
14,800 14,800
$ 50,000 $ 450,000
$ 240,000
$ 40,000 $ 24,000 $ 1,216,000
$ 8,000 $ -448,000
$ 48,000 $ 9,600 $ 38,400
 $ 1,604,200

$ 254,800
$ 700,000
$ 3,200
$ 1,600 $ 8,000 $ 6,400
$ 964,400

$ 160,000 $ 240,000
$ 345,080 $ 214,640 $ 264,680
$ 504,680
$ 1,469,080

$ 135,120