Date: Jan 1 2022

FVCT
Cash 500,000.00
OS 1,000,000.00
SP 500,000.00 2,000,000.00
FVNAA
Assets 2,770,000.00
Liab 990,000.00 1,780,000.00
GW 220,000.00

6) schedule (not applicable - no bs for peas on DOA)

7) Inv in Soya 2,000,000.00

Cash 500,000.00
OS 1,000,000.00
SP 500,000.00
#

8) record acq exp (not applicable - no data)

9)
a. OS 1,000,000.00
SP 100,000.00
RE 480,000.00
Inv in Soya 1,580,000.00
#
b) Inventory 10,000.00
Land 200,000.00
AD-B 120,000.00
AD- E 80,000.00
Disc on BP 10,000.00
Bldg 100,000.00
Equip 120,000.00
Inv in Soya 200,000.00
#
c) Goodwill 220,000.00
Inv in Soya 220,000.00
#
Step 10-11 BS (not applicable - no data for Peas)

Date: Dec 2022

Cash 300,000.00
Dividend Income 300,000.00
#
2) elimination entries
 a) same with DOA
b) same with DOA
c) same with DOA
NOTE: GW is recognized on the DOA only

d) amort'n of FVA
and imp of gw
COGS 10,000.00
Dep'n Exp - B 5,000.00
AD - E 10,000.00
Int Exp 2,000.00
Imp Loss 5,000.00
Inv 10,000.00
AD-B 5,000.00
Dep'n Exp E 10,000.00
Disc on BP 2,000.00
GW 5,000.00
#
e) elim of
intercompany
dividends
Dividend Income 300,000.00
Dividend Paid 300,000.00
#

Step 10-11 Income Statement

Peas Soya
Sales 5,000,000.00 1,200,000.00
-COGS - 2,000,000.00 - 200,000.00
GP 3,000,000.00 1,000,000.00
Opex:
Dep'n Exp B - 300,000.00 - 120,000.00
Dep'n Exp E - 160,000.00 - 80,000.00
Other Expenses - 1,040,000.00 - 300,000.00
Interest Exp -
Impairment Loss -
Operating Income 1,500,000.00 500,000.00
Dividend Income 300,000.00 -
Net Income 1,800,000.00 500,000.00

Statement of Changes in RE
RE, beg 2,040,000.00 480,000.00
Net Income 1,800,000.00 500,000.00
Dividend Paid - 500,000.00 - 300,000.00
RE, end 3,340,000.00 680,000.00
 workback

Balance Sheet
Cash 1,000,000.00 900,000.00
AR 400,000.00 230,000.00
Inv 350,000.00 150,000.00
Inv in Soya 2,000,000.00 -
Land 2,000,000.00 1,000,000.00
BLdg 1,500,000.00 600,000.00
AD-Bldg - 300,000.00 - 240,000.00
Equip 800,000.00 400,000.00
AD-Equip - 160,000.00 - 160,000.00
Goodwill
Total 7,590,000.00 2,880,000.00

AP 750,000.00 600,000.00
BP 500,000.00 500,000.00
OS 2,500,000.00 1,000,000.00
SP 500,000.00 100,000.00
RE 3,340,000.00 680,000.00
Total 7,590,000.00 2,880,000.00

SHORTCUTS
Conso Assets Dec 2022
Parent BV 7,590,000.00
Subsidiary FV 3,070,000.00
Inv in Subs - 2,000,000.00
GW 215,000.00
Amort'n
Inventory (UV) - 10,000.00
Bldg (UV) - 5,000.00
Equipment (OV) 10,000.00
Total 8,870,000.00
8,870,000.00 -
Total

Soya (CD) 2,880,000.00

Inv 10,000.00
Land 200,000.00
Bldg 20,000.00
Equip - 40,000.00
3,070,000.00

Conso SHE
OS - Parent 2,500,000.00
SP - Parent 500,000.00
RE - Conso (parent)
NCI
Total

RE, beg 2,040,000.00

NI (Parent)

NI (parent) 220,000.00
NI (subs) 45,000.00
Amort'n

IL
Schedule of changes in FV
Inv 10,000.00
Land 200,000.00
BLdg - 100,000.00
AD-B 120,000.00
Equipment - 120,000.00
AD-E 80,000.00 190,000.00
BP - 10,000.00 - 10,000.00
200,000.00
 Schedule of amort'n 2022
Inv 10,000.00 10,000.00
Land 200,000.00 -
Bldg 20,000.00 4 5,000.00
Equip - 40,000.00 4 - 10,000.00
BP 10,000.00 5 2,000.00
GW - 5,000.00 - 5,000.00

Adj
6,200,000.00
- 10,000.00 - 2,210,000.00
3,990,000.00
-
- 5,000.00 - 425,000.00
10,000.00 - 230,000.00
- 1,340,000.00
- 2,000.00 - 2,000.00
- 5,000.00 - 5,000.00
1,988,000.00
- 300,000.00 -
1,988,000.00

- 480,000.00 2,040,000.00
1,988,000.00
300,000.00 - 500,000.00
3,528,000.00
 1,900,000.00
630,000.00 COGS 10,000.00
- 500,000.00 Dep'n Exp - B 5,000.00
- 2,000,000.00 - AD - E 10,000.00
200,000.00 3,200,000.00 Int Exp 2,000.00
- 100,000.00 2,000,000.00 Imp Loss 5,000.00
115,000.00 - 425,000.00 Inv
- 120,000.00 1,080,000.00 AD-B
90,000.00 - 230,000.00 Dep'n Exp E
215,000.00 215,000.00 Disc on BP
- 1,600,000.00 8,870,000.00 GW
#
1,350,000.00
- 8,000.00 992,000.00
- 1,000,000.00 2,500,000.00
- 100,000.00 500,000.00
- 480,000.00 3,528,000.00
- 1,588,000.00 8,870,000.00
2023
-
-
5,000.00
- 10,000.00
2,000.00
10,000.00
5,000.00
10,000.00
2,000.00
5,000.00
Date: Dec 2023
#1 recognize div income
Cash 400,000.00
Dividend Income 400,000.00
#
#2 elimination entries
a. OS 1,000,000.00
SP 100,000.00
RE 680,000.00
Inv in Soya 1,780,000.00
#
b. FV ADJUSTMENT - ALWAYS THE SAME
#
c. on the DOA only
d. RE 12,000.00
Dep'n Expense - Bldg 5,000.00
AD-Equipment 20,000.00
Interest Expense 2,000.00
AD-Bldg 10,000.00
Dep'n Exp - Equip 10,000.00
Disc on BP 4,000.00
Inventory 10,000.00
GW 5,000.00
#
e. Dividend Income 400,000.00
Dividend Paid 400,000.00
#
f. Inv in Soya 200,000.00
RE 200,000.00
#
RE, end (PY) 680,000.00
RE, beg (PY) 480,000.00
200,000.00
Income Statement Adj
Sales 7,000,000.00 1,500,000.00
-COGS - 2,000,000.00 - 400,000.00
GP 5,000,000.00 1,100,000.00
OPEX:
Dep'n Exp- B - 300,000.00 - 120,000.00 - 5,000.00
Dep'n Exp - Equip - 160,000.00 - 80,000.00 10,000.00
Other Exp - 2,000,000.00 - 200,000.00
Interest Exp - 2,000.00
Net Income 2,540,000.00 700,000.00
Dividend Income 400,000.00 - - 400,000.00
Total 2,940,000.00 700,000.00
RE, beg 3,340,000.00 680,000.00 - 492,000.00
Income 2,940,000.00 700,000.00
Div paid - 500,000.00 - 400,000.00 400,000.00
RE, end 5,780,000.00 980,000.00

Balance Sheet Peas Soya Adj

Cash 4,000,000.00 1,000,000.00
AR 500,000.00 250,000.00
Inv 400,000.00 200,000.00 -
Inv in Soya 2,000,000.00 - 2,000,000.00
Land 2,000,000.00 1,000,000.00 200,000.00
Bldg 1,500,000.00 600,000.00 - 100,000.00
AD-B - 600,000.00 - 360,000.00 110,000.00
Equip 800,000.00 400,000.00 - 120,000.00
AD-E - 320,000.00 - 240,000.00 100,000.00
GW 215,000.00
Total 10,280,000.00 2,850,000.00 - 1,595,000.00

AP 1,000,000.00 270,000.00
BP 500,000.00 500,000.00 - 6,000.00
OS 2,500,000.00 1,000,000.00 - 1,000,000.00
SP 500,000.00 100,000.00 - 100,000.00
RE 5,780,000.00 980,000.00
Total 10,280,000.00 2,850,000.00 - 1,106,000.00
NOTE: REFER TO THE DATA ON DEC 2022 FOR THE AMOUNTS

Schedule of amort'n 2022 2023

Inv 10,000.00 10,000.00 -
Land 200,000.00 - -
Bldg 20,000.00 4 5,000.00 5,000.00
Equip - 40,000.00 4 - 10,000.00 - 10,000.00
BP 10,000.00 5 2,000.00 2,000.00
GW 5,000.00 5,000.00
12,000.00

8,500,000.00
- 2,400,000.00
6,100,000.00

- 425,000.00
- 230,000.00
- 2,200,000.00
- 2,000.00
3,243,000.00
-
3,243,000.00
 3,528,000.00
3,243,000.00
- 500,000.00
6,271,000.00

Total
5,000,000.00
750,000.00
600,000.00
-
3,200,000.00
2,000,000.00
- 850,000.00
1,080,000.00
- 460,000.00
215,000.00
11,535,000.00

1,270,000.00
994,000.00
2,500,000.00
500,000.00
6,271,000.00
11,535,000.00
PARTIAL- FULL GW APPROACH
DATE: Jan 1, 2022
FVCT: Consideration 280,000.00
NCI 60,000.00 60,000.00
Total 340,000.00
FVNAA 270,000.00
GW 70,000.00

Step 6 Full Paz

FVCT 340,000.00 280,000.00
Less: BV of SHE - 255,000.00 - 204,000.00
All. Exc 85,000.00 76,000.00
Less: FV Adj - 15,000.00 - 12,000.00
GW 70,000.00 64,000.00

Step 7 Inv in Shey 280,000.00

Cash 280,000.00
#
Step 8 no entry (Acq Rel Costs)

Step 9
a) OS 100,000.00
SP 20,000.00
RE 135,000.00
Inv in Shey 204,000.00
NCI 51,000.00
#
b) Inv 5,000.00
AD 30,000.00
Eq 20,000.00
Inv in Shey 12,000.00
NCI 3,000.00
#
c) GW 70,000.00
Inv in Shey 64,000.00
NCI 6,000.00
#

Date: Dec 2022

Step 1 Cash 20,000.00
Dividend Income 20,000.00
#
Step 2 - EE
a) same
b) same
 c) on doa only

d) COGS 5,000.00
Dep'n Exp 2,500.00
Impairment Loss 3,500.00
Inventory 5,000.00
AD-E 2,500.00
GW 3,500.00
#
e) Dividend Income 20,000.00
NCI 5,000.00
w 25,000.00
#
f) Net Income-NCI 7,200.00
NCI 7,200.00

Step 3 Income Statement P S

Sales 600,000.00 150,000.00
Less: COGS - 300,000.00 - 70,000.00
GP 300,000.00 80,000.00
OPEX:
Dep'n Exp - 80,000.00 - 30,000.00
Other Expense - 20,000.00 - 5,000.00
Impairment Loss -
Net Income 200,000.00 45,000.00
Add: Dividend Income 20,000.00 -
Total Income 220,000.00 45,000.00
Net Income (NCI)
Net Income

Changes in RE workback
RE, beg 1,010,000.00 135,000.00
Net Income 220,000.00 45,000.00
Dividend Paid - 80,000.00 - 25,000.00
RE, end 1,150,000.00 155,000.00

Balance Sheet
Cash 1,500,000.00 120,000.00
AR 400,000.00 60,000.00
Inv 250,000.00 75,000.00
Inv in Soya 280,000.00
Equip 400,000.00 150,000.00
AD - 80,000.00 - 60,000.00
GW
Total 2,750,000.00 345,000.00

AP 400,000.00 70,000.00
OSC 1,000,000.00 100,000.00
SP 200,000.00 20,000.00
RE 1,150,000.00 155,000.00
NCI
Total 2,750,000.00 345,000.00

Conso SHE
OS (parent) 1,000,000.00
SP (parent) 200,000.00
RE (conso Parent) 1,156,800.00
NCI 60,000.00
2,416,800.00 470,000.00
beg 1,010,000.00 2,886,800.00
net income 226,800.00
div paid 80,000.00
1,156,800.00

NI, Parent 220,000.00

NI, Subs 45,000.00
Share in Div - 20,000.00
NCI - 7,200.00
Amort
Inv - 5,000.00
Equip - 2,500.00
IL - 3,500.00
226,800.00
NI Subs 45,000.00
Amortn - 5,000.00
- 2,500.00
37,500.00
20%
7,500.00
300.00
7,200.00

NI total 226,800.00
NCI
 54,000.00

Shey Inv 5,000.00

60,000.00 Eq 10,000.00
- 51,000.00
9,000.00
- 3,000.00
6,000.00
 2022 2023
Inv 5,000.00 5,000.00
Equip 10,000.00 4 2,500.00 2,500.00
GW 3,500.00 3,500.00
7,500.00

Ni-Subsidiary 45,000.00
Amortization (U) - 7,500.00
Adj NI of Subs 37,500.00
Multiply NCI % 20%
Total 7,500.00
Share of NCI in GW - 300.00
NCI Net Income 7,200.00

A T
750,000.00
- 5,000.00 - 375,000.00
- 5,000.00 375,000.00
-
- 2,500.00 - 112,500.00
- 25,000.00
- 3,500.00 - 3,500.00
- 11,000.00 234,000.00
- 20,000.00 -
234,000.00
- 7,200.00
226,800.00

- 135,000.00 1,010,000.00
- 226,800.00
25,000.00 - 80,000.00
1,156,800.00

1,620,000.00
460,000.00
- 325,000.00
- 280,000.00 -
- 20,000.00 530,000.00
27,500.00 - 112,500.00
66,500.00 66,500.00
- 206,000.00 2,889,000.00

470,000.00
- 100,000.00 1,000,000.00
- 20,000.00 200,000.00
1,156,800.00
62,200.00 62,200.00
- 120,000.00 2,889,000.00

2022 2023
Inv 5,000.00 5,000.00
Equip 10,000.00 4 2,500.00 2,500.00
GW 3,500.00 3,500.00
7,500.00
Date ; 2023
Step 1: Cash 40,000.00
Dividend Income 40,000.00
#
Step 2: EE
a. BV of SHE OS 100,000.00
SP 20,000.00
RE 155,000.00
Inv in Shey 220,000.00
NCI 55,000.00
#
b. FV Adj Inv 5,000.00
AD 30,000.00
Eq 20,000.00
Inv in Shey 12,000.00
NCI 3,000.00
#
c. GW GW 70,000.00
Inv in Shey 64,000.00
NCI 6,000.00
#

d. amort'n RE 9,200.00
NCI 1,800.00
Dep'n Exp 2,500.00
Inv 5,000.00
AD 5,000.00
GW 3,500.00
#
e. intercompany div Dividend Income 40,000.00
NCI 10,000.00
Dividend Paid 50,000.00
#
f. derecognize share of NCI
in NI Net Income-NCI 14,500.00
NCI 14,500.00
#

g. Investment in Shey 16,000.00

RE 16,000.00
#
Income Statement
Sales 750,000.00 200,000.00
Less: COGS - 320,000.00 - 90,000.00
GP 430,000.00 110,000.00
OPEX:
Dep'n Exp - 80,000.00 - 30,000.00 - 2,500.00
Other Expense - 20,000.00 - 5,000.00
Impairment Loss
Net Income 330,000.00 75,000.00
Add: Dividend Income 40,000.00 - - 40,000.00
Total Income 370,000.00 75,000.00
Net Income (NCI) - 14,500.00
Net Income

Changes in RE
RE, beg 1,150,000.00 155,000.00 - 148,200.00
Net Income 370,000.00 75,000.00
Dividend Paid - 200,000.00 - 50,000.00 50,000.00
RE, end 1,320,000.00 180,000.00

Balance Sheet
Cash 1,650,000.00 160,000.00
AR 500,000.00 80,000.00
Inv 350,000.00 100,000.00 -
Inv in Soya 280,000.00 - 280,000.00
Equip 400,000.00 150,000.00 - 20,000.00
AD - 160,000.00 - 90,000.00 25,000.00
GW - 66,500.00
Total 3,020,000.00 400,000.00

AP 500,000.00 100,000.00
OSC 1,000,000.00 100,000.00 - 100,000.00
SP 200,000.00 20,000.00 - 20,000.00
RE 1,320,000.00 180,000.00
NCI - - 66,700.00
Total 3,020,000.00 400,000.00
 2022
Inv 5,000.00 5,000.00
Equip 10,000.00 4 2,500.00
GW 3,500.00 3,500.00
11,000.00

FVA 7,500.00 6,000.00 1,500.00

GW 3,500.00 3,200.00 300.00
9,200.00 1,800.00

RE 20,000.00

Net Income Subsidiary 75,000.00

Amorti - 2,500.00 -->not cumulative
Total 72,500.00
NCI % 0.20
NCI Net Income 14,500.00

Subsidiary
RE, end PY 155,000.00

RE, beg PY - 135,000.00

Increase 20,000.00
CI % 0.80
16,000.00

950,000.00
- 410,000.00
 540,000.00

- 112,500.00
- 25,000.00
-
402,500.00

402,500.00
- 14,500.00
388,000.00

1,156,800.00
388,000.00
- 200,000.00
1,344,800.00

1,810,000.00
580,000.00
450,000.00
-
530,000.00
- 225,000.00
66,500.00
3,211,500.00

600,000.00
1,000,000.00
200,000.00
1,344,800.00
66,700.00
3,211,500.00
2023

2,500.00