Worksheet 2020

Income Statement Pam Sun Adjustment & Elimination

Debit Credit
Sales 300.00 200.00
Income from Sun 25.00
Cost of sales - 180.00 - 140.00
Expenses - 50.00 - 20.00

NCI Share
Net Income 95.00 40.00
Controlling share of NI
Statement of RE
Beginning RE 255.00 100.00
Net Income 95.00 40.00
Dividend - 50.00 - 20.00

Ending RE 300.00 120.00

Balance sheet
Cash 41.00 35.00
Trade receivable-net 60.00 55.00
Dividend receivable 8.00
Advance to Sun 25.00
Inventories 125.00 35.00
Plant assets-net 300.00 175.00

Investment in Sun 191.00

Patents
Total Assets 750.00 300.00
AP 50.00 45.00
Advance from Pam 25.00
Dividends payable 10.00
Capital stock 400.00 100.00
RE 300.00 120.00
NCI

Total Liabilities & Equities 750.00 300.00 -

ent & Elimination Consolidation
Credit
500.00
25.00
- 320.00
- 70.00

135.00

355.00
135.00
- 70.00

420.00

76.00
115.00
8.00
25.00
160.00
475.00
-
-
191.00

-
1,050.00
95.00
25.00
10.00
500.00
420.00
-

- 1,050.00