Nama : Gina Purdiyanti Tugas Akuntansi Keuangan Lanjutan I

NIM : 20181211031 Pertemuan ke-3

Chapter 3 (The Reporting Entity and the Consolidation
Kelas : AK51R Subsidiaries with No Differential)
Dosen : Dr. Muchlis, SE, MBM

P3-36

Paper Company Scissor Company

Dr Cr Dr Cr
Assets
Cash $ 109,000 $ 25,000
Account Receivable $ 65,000 $ 37,000
Inventory $ 125,000 $ 87,000
Investment in Scissor $ 296,000 $ -
Land $ 280,000 $ 125,000
Buildings and Equipment $ 875,000 $ 250,000
Accumulated Depreciation $ (500,000) $ (24,000)
Total Assets $ 1,250,000 $ 500,000

Liabilities and Stakeholders Equity

Account Payable $ 95,000 $ 30,000
Bonds Payable $ 250,000 $ 100,000
Common Stock $ 625,000 $ 250,000
Retained Earnings $ 280,000 $ 120,000
Total Liabilities and Equity $ 1,250,000 $ 500,000

(a). Journal Entry Papers book 01/01/08

Dr Cr
Investment in Scissor $ 296,000
Cash $ 296,000

Common Stock $ 250,000

Retained Earnings $ 120,000
Investment in Scissor $ 296,000
NCI in Net Asset $ 74,000

Accumulated Depreciation $ 24,000

Building and Equipment $ 24,000

Book Value Calculations

Investment Common Additional Retained

NCI 20%
Account 80% Stock PIC Earnings

Beginning Balance $ 74,000 $ 296,000 $ 250,000 $ 120,000

(+) Net Income $ - $ - $ - $ -
(-) Dividend $ - $ - $ - $ -
Ending Balance $ 74,000 $ 296,000 $ 250,000 $ 120,000

Basic Elimination Entry

Dr Cr
Common Stock $ 250,000
Retained Earnings, Beg Balance $ 120,000
Investment in Scissor $ 296,000
NCI In Net Asset $ 74,000

Consolidation Worksheet
Paper Company Scissor Company Elimination Entries
Dr Cr Dr Cr Dr
Assets
Cash $ 109,000 $ 25,000
Account Receivable $ 65,000 $ 37,000
Inventory $ 125,000 $ 87,000
Investment in Scissor $ 296,000 $ -
Land $ 280,000 $ 125,000
Buildings and Equipment $ 875,000 $ 250,000
Accumulated Depreciation $ (500,000) $ (24,000) $ 24,000
Total Assets $ 1,250,000 $ 500,000 $ 24,000

Liabilities and Stakeholders Equity

Account Payable $ 95,000 $ 30,000
Bonds Payable $ 250,000 $ 100,000
Common Stock $ 625,000 $ 250,000 $ 250,000
Retained Earnings $ 280,000 $ 120,000 $ 120,000
NCI in Net Asset
Total Liabilities and Equity $ 1,250,000 $ 500,000 $ 370,000

Consolidtion Balance Sheet

Amounts
Dr Cr
Assets
Cash $ 134,000
Account Receivable $ 102,000
Inventory $ 212,000
Investment in Scissor $ -
Land $ 405,000
Buildings and Equipment $ 1,101,000
Accumulated Depreciation $ (500,000)
Total Assets $ 1,454,000

Liabilities and Stakeholders Equity

Account Payable $ 125,000
Bonds Payable $ 350,000
Common Stock $ 625,000
Retained Earnings $ 280,000
NCI in Net Asset $ 74,000
Total Liabilities and Equity $ 1,454,000
njutan I

y and the Consolidation of Less-than-Wholly- Owned

tial)
Elimination Entries Consolidated
Cr

$ 134,000
$ 102,000
$ 212,000
$ 296,000 $ -
$ 405,000
$ 24,000 $ 1,101,000
$ (500,000)
$ 320,000 $ 1,454,000 footing
$ 1,454,000 Cross footing

$ 125,000
$ 350,000
$ 625,000
$ 280,000
$ 74,000 $ 74,000
$ 74,000 $ 1,454,000 footing
$ 1,454,000 Cross footing
P3-37

Paper Company Scissor Company

Dr Cr Dr
Assets
Cash $ 191,000 $ 46,000
Account Receivable $ 140,000 $ 60,000
Inventory $ 190,000 $ 120,000
Investment in Scissor $ 350,400 $ -
Land $ 250,000 $ 125,000
Buildings and Equipment $ 875,000 $ 250,000
Cost of Good Sold $ 250,000 $ 155,000
Depreciation Expense $ 65,000 $ 12,000
Selling & Administrative Expense $ 280,000 $ 50,000
Dividends Declared $ 80,000 $ 25,000
Accumulated Depreciation $ 565,000
Accounts Payable $ 77,000
Bonds payable $ 250,000
Common Stock $ 625,000
Retained Earnings $ 280,000
Sales $ 800,000
Income from Scissor $ - $ 74,400 $ -
Total $ 2,671,400 $ 2,671,400 $ 843,000

Book Value Calculations

Investment
NCI 20% Common Stock
Account 80%

Beginning Balance $ 74,000 $ 296,000 $ 250,000

(+) Net Income $ 18,600 $ 74,400
(-) Dividend $ 5,000 $ 20,000 $ -
Ending Balance $ 87,600 $ 350,400 $ 250,000

Basic Elimination Entry

Dr Cr
Common Stock $ 250,000
Retained Earnings, Beginning Balance $ 120,000
Income from Scissor $ 74,400
NCI in Net Income $ 18,600
Dividend Declared $ 25,000
Investment in Scissor $ 350,400
NCI in Net Asset $ 87,600

Consolidation Income Statement

Paper Scissor Eliminations
Account
Company Company Dr
Sales $ 800,000 $ 310,000
Cost of Good Sold $ (250,000) $ (155,000)
Depreciation Expense $ (65,000) $ (12,000)
Selling & Administrative Expense $ (280,000) $ (50,000)
Income from Scissor $ 93,000 $ - $ 93,000
Net Profit $ 298,000 $ 93,000
NCI in Net Income $ 18,600
Controlling Interest in Net Income

Consolidation Retained Earnings

Paper Scissor Elimination
Account Company Company Dr
Retained earnings 1st January $ 280,000 $ 120,000 $ 120,000
Net profit 31st December $ 279,400 $ 93,000 $ 93,000
Dividends declared $ (80,000) $ (25,000) $ -
Retained earnings 31st December $ 479,400 $ 188,000 $ 213,000

Consolidation Balance Sheet

Paper Company Scissor Company
Account
Dr Cr Dr
Assets
Cash $ 191,000 $ 46,000
Account Receivable $ 140,000 $ 60,000
Inventory $ 190,000 $ 120,000
Investment in Scissor $ 350,400 $ -
Land $ 250,000 $ 125,000
Buildings and Equipment $ 875,000 $ 250,000
Less : Accumulated Depreciation $ - $ (565,000) $ -
Total Assets $ 1,996,400 $ (565,000) $ 601,000

Liabilities and Shareholders Equity

Accounts Payable $ 77,000
Bonds payable $ 250,000
Common Stock $ 625,000
Retained Earnings $ 479,400
NCI in NA $ -
Total Liabilities and Shareholders Equity $ 1,431,400
Scissor Company
Cr

$ 36,000
$ 27,000
$ 100,000
$ 250,000
$ 120,000
$ 310,000
$ -
$ 843,000

Retained
Additional PIC
Earnings

$ 120,000 Perhitungan Net Income :

$ 93,000 $ 93,000
$ 25,000
$ - $ 188,000
 Eliminations
Consolidation
Cr
$ 1,110,000
$ (405,000)
$ (77,000)
$ (330,000)
$ -
$ 298,000
$ (18,600)
$ 279,400

Elimination
Consolidation
Cr
$ 280,000
$ 279,400
$ 25,000 $ (80,000)
$ 25,000 $ 479,400 footing
$ 479,400 cross footing

Scissor Company Elimination

Consolidation
Cr Dr Cr

$ 237,000
$ 200,000
$ 310,000
$ 350,400 $ -
$ 375,000
$ 24,000 $ 1,101,000
$ (36,000) $ 24,000 $ - $ (577,000)
$ (36,000) $ 24,000 $ 374,400 $ 1,646,000 footing
$ 1,646,000 cross footing

$ 27,000 $ 104,000
$ 100,000 $ 350,000
$ 250,000 $ 250,000 $ 625,000
$ 188,000 $ 213,000 $ 25,000 $ 479,400
$ - $ - $ 87,600 $ 87,600
$ 565,000 $ 463,000 $ 112,600 $ 1,646,000 footing
$ 1,646,000 cross footing
P3-38

Paper Company Scissor Company

Dr Cr Dr Cr
Assets
Cash $ 295,000 $ 116,000
Account Receivable $ 165,000 $ 97,000
Inventory $ 193,000 $ 115,000
Investment in Scissor $ 412,000 $ -
Land $ 250,000 $ 125,000
Buildings and Equipment $ 875,000 $ 250,000
Cost of Good Sold $ 278,000 $ 178,000
Depreciation Expense $ 65,000 $ 12,000
Selling & Administrative Expense $ 312,000 $ 58,000
Dividends Declared $ 90,000 $ 30,000
Accumulated Depreciation $ 630,000 $ 48,000
Accounts Payable $ 85,000 $ 40,000
Bonds payable $ 150,000 $ 100,000
Common Stock $ 625,000 $ 250,000
Retained Earnings $ 479,400 $ 188,000
Sales $ 880,000 $ 355,000
Income from Scissor $ - $ 85,600 $ - $ -
Total $ 2,935,000 $ 2,935,000 $ 981,000 $ 981,000

Book Value Calculations

Investment Common Additional

NCI 20%
Account 80% Stock PIC

Beginning Balance $ 87,600 $ 350,400 $ 250,000

(+) Net Income $ 21,400 $ 85,600
(-) Dividend $ 6,000 $ 24,000 $ -
Ending Balance $ 103,000 $ 412,000 $ 250,000

Basic Elimination Entry

 Dr Cr
Common Stock $ 250,000
Retained Earnings, Beginning Balance $ 188,000
Income from Scissor $ 85,600
NCI in Net Income $ 21,400
Dividend Declared $ 30,000
Investment in Scissor $ 412,000
NCI in Net Asset $ 103,000

Consolidation Income Statement

Paper Scissor Eliminations
Account
Company Company Dr Cr
Sales $ 880,000 $ 355,000
Cost of Good Sold $ (278,000) $ (178,000)
Depreciation Expense $ (65,000) $ (12,000)
Selling & Administrative Expense $ (312,000) $ (58,000)
Income from Scissor $ 107,000 $ - $ 107,000
Net Profit $ 332,000 $ 107,000 $ 107,000

NCI in Net Income $ 21,400

Controlling Interest in Net Income

Consolidation Retained Earnings

Paper Scissor Elimination
Account
Company Company Dr Cr
Retained earnings 1st January $ 479,400 $ 188,000 $ 188,000
Net profit 31st December $ 310,600 $ 107,000 $ 107,000
Dividends declared $ (90,000) $ (30,000) $ - $ (30,000)
Retained earnings 31st December $ 700,000 $ 265,000 $ 295,000 $ (30,000)

Consolidation Balance Sheet

Paper Company Scissor Company
Account
Dr Cr Dr Cr
Assets
Cash $ 295,000 $ 116,000
Account Receivable $ 165,000 $ 97,000
Inventory $ 193,000 $ 115,000
Investment in Scissor $ 412,000 $ -
Land $ 250,000 $ 125,000
Buildings and Equipment $ 875,000 $ 250,000
Less : Accumulated Depreciation $ - $ (630,000) $ - $ (48,000)
Total Assets $ 2,190,000 $ (630,000) $ 703,000 $ (48,000)

Liabilities and Shareholders Equity

Accounts Payable $ 85,000 $ 40,000
Bonds payable $ 150,000 $ 100,000
Common Stock $ 625,000 $ 250,000
Retained Earnings $ 700,000 $ 265,000
NCI in NA $ - $ -
Total Liabilities and Shareholders Equity $ 1,560,000 $ 655,000
 Retained
Earnings

$ 188,000 Perhitungan Net Profit:

$ 107,000 $ 107,000
$ 30,000
$ 265,000
Consolidation

$ 1,235,000
$ (456,000)
$ (77,000)
$ (370,000)
$ -
$ 332,000 footing
$ 332,000 cross footing
$ (21,400)
$ 310,600

Consolidation

$ 479,400
$ 310,600
$ (90,000)
$ 700,000

Elimination
Consolidation
Dr Cr

$ 411,000
$ 262,000
$ 308,000
$ 412,000 $ -
$ 375,000
$ 12,000 $ 1,113,000
$ 12,000 $ - $ (666,000)
$ 12,000 $ 424,000 $ 1,803,000 footing
$ 1,803,000 cross footing

$ 125,000
 $ 250,000
$ 250,000 $ 625,000
$ 265,000 $ 700,000
$ - $ 103,000 $ 103,000
$ 515,000 $ 103,000 $ 1,803,000 footing
$ 1,803,000 cross footing