SHELBY COMPANY (same except sa question 7)

Answer the following questions: (2 points each)

60% 1. What is the percentage of ownership acquired from Shelbie Company?
600 2. How much is the acquisition cost?
750 3. How much is the Shelbie's net income for consolidation purposes?
375 4. How much of the excess of cost is amortized in 2016?
5. How much goodwill is presented in the consolidated financial statements if Shelby uses Proportional
240 approach?
60 6. How much of the acquisition cost represents cash paid by Shelby?
7. If Shelby uses equity method in accounting for its investment in subsidiary, how much is the
990 investment in subsidiary in its separate financial statements as of December 31, 2016?
1,760 8. How much is the consolidated comprehensive income?

BEBE and BOOBOO (same all)

Required:
Compute the following: 12/31/2015 12/31/2016
Consolidated total assets 2 pts 2,456,000 2,538,750
Consolidated total liabilities 2 pts 1,619,000 1,669,250
Consolidated net income (loss) 2 pts 32,500

BEBE and BOOBOO

Required:
Compute the noncontrolling interest as of 12/31/2018.
Compute the income attributable to noncontrolling interest in 2019.
Compute the income attributable to controlling interest in 2019.
Net income per books of Bebe in 2019
Net income per books of Boo Boo in 2019

PARENT COMPANY
Compute the following:
Controlling interest in the 2023 consolidated net income
Noncontrolling interest in the 2023 consolidated comprehensive income
Consolidated Retained Earnings, 12/31/2025
Noncontrolling interest in the net assets of subsidiary, 12/31/2025
Controlling interest in the net assets of subsidiary, 12/31/2025
Controlling interest's shareholder's equity, 12/31/2025

PARENT COMPANY
Compute the following: Cost Method
2022 Net income of Parent per books ₱498,400.00
Parent's Retained earnings, 12/31/2023 ₱2,047,600.00
Noncontrolling interest, 12/31/2023 ₱1,019,280.00
Consolidated Shareholders' Equity, 12/31/2021
Consolidated Retained earnings, 12/31/2022 ₱1,957,920.00
Investment in subsidiary, 12/31/2022
498,400.00
 2,068,720.00
931,300.00

1,957,920.00

74 pts
right 46.028
wrong 27.972
 16 pts

ents if Shelby uses Proportional

idiary, how much is the VAN

mber 31, 2016? 1,034.00 gamitin yung kay neca

16 pts VAN
12/31/2015 12/31/2016 12/31/2017
12/31/2017 2,456,000 2,538,750 2,400,500
2,400,500 1,619,000 1,669,250 1,585,000
1,585,000 32,500 -54,500
-54,500

10 pts
VAN
2 pts 145,370 151,150.00
2 pts 3,880 4,750.00
2 pts 76,120 75,250.00
2 pts 69,600 65,250.00
2 pts 17,400 21,750.00

12 pts
VAN
₱741,700.00 771,200.00
₱81,300.00 87,300.00
₱3,913,800.00 6,213,000.00
₱701,400.00 1,395,000.00
₱1,636,600.00 3,255,000.00
₱7,905,700.00 6,640,000.00

20 pts
Equity Method
₱635,520.00
₱2,635,200.00
₱999,700.00
₱7,227,100.00
₱1,957,920.00
₱3,805,520.00
635,520.00 sabi ni van ito lang daw palitan
2,656,320.00
931,300.00
7,386,320.00
1,957,920.00
3,627,920.00
SHELBY COMPANY 16 pts
Answer the following questions: (2 points each)
60% 1. What is the percentage of ownership acquired from Shelbie Company?
600 2. How much is the acquisition cost?
750 3. How much is the Shelbie's net income for consolidation purposes?
375 4. How much of the excess of cost is amortized in 2016?
5. How much goodwill is presented in the consolidated financial statements if Shelby uses Proportional
240 approach?
60 6. How much of the acquisition cost represents cash paid by Shelby?
7. If Shelby uses equity method in accounting for its investment in subsidiary, how much is the
990 investment in subsidiary in its separate financial statements as of December 31, 2016?
1,760 8. How much is the consolidated comprehensive income?

BEBE and BOOBOO 16 pts

Required:
Compute the following: 12/31/2015 12/31/2016 12/31/2017
Consolidated total assets 2 pts 2,456,000 2,538,750 2,400,500
Consolidated total liabilities 2 pts 1,619,000 1,669,250 1,585,000
Consolidated net income (loss) 2 pts 32,500 -54,500

BEBE and BOOBOO

Required: VAN
Compute the noncontrolling interest as of 12/31/2018. 2 pts 151,150.00
Compute the income attributable to noncontrolling interest in 2019. 2 pts 4,750.00
Compute the income attributable to controlling interest in 2019. 2 pts 75,250.00
Net income per books of Bebe in 2019 2 pts 65,250.00
Net income per books of Boo Boo in 2019 2 pts 21,750.00

PARENT COMPANY 12 pts

Compute the following:
Controlling interest in the 2023 consolidated net income ₱741,700.00
Noncontrolling interest in the 2023 consolidated comprehensive income ₱81,300.00
Consolidated Retained Earnings, 12/31/2025 ₱3,913,800.00
Noncontrolling interest in the net assets of subsidiary, 12/31/2025 ₱701,400.00
Controlling interest in the net assets of subsidiary, 12/31/2025 ₱1,636,600.00
Controlling interest's shareholder's equity, 12/31/2025 ₱7,905,700.00

PARENT COMPANY
Compute the following: Cost Method Equity Method
2022 Net income of Parent per books ₱498,400.00 ₱635,520.00
Parent's Retained earnings, 12/31/2023 ₱2,047,600.00 ₱2,635,200.00
Noncontrolling interest, 12/31/2023 ₱1,019,280.00 ₱999,700.00
Consolidated Shareholders' Equity, 12/31/2021 ₱7,227,100.00
Consolidated Retained earnings, 12/31/2022 ₱1,957,920.00 ₱1,957,920.00
Investment in subsidiary, 12/31/2022 ₱3,805,520.00
s Proportional

20 pts
Equity Method
₱635,520.00
₱2,635,200.00
 ₱999,700.00
₱7,227,100.00
₱1,957,920.00
₱3,805,520.00