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PAN CORPORATION AND SUBSIDIARY CONSOLIDATION WORKPAPER

FOR THE YEAR ENDED DECEMBER 31, 2011

Equity Method
Adjustment
Debits
Credits
Combined Income and Retained Earnings Statements December 31, 2011
Sales
800.00
200.00
Income From Saf
27.60
c
27.60
Deviden income
Cost of sales
(500.00)
(100.00)
Other expenses
(194.00)
(52.00) e
11.20
Non Controlling Interest share
d
9.20
Controlling Share of Net incom
133.60
48.00
Retained earnings 1/1 - Pan
360.00
Retained earnings 1/1 - Saf
68.00 a
68.00
Deduct : Dividends
100.00
32.00
c
24.00
d
8.00
Retained Earnings 31/12
393.60
84.00
Balance Sheet at December 31
Cash
Account Receivable - net
Dividends Receivable from Saf
Inventories
Note receivable from Pan
Land
Buildings - net
Equipment - net
Investment in Saf
Patents / 10
Unamortized excess
Total Assets
Accounts Payable
Note Payable to Saf
Dividends Payable
Capital stock, $10 par
Retained Earnings
Total Equities
Noncontroliling interest 1/1
Noncontroliling interest 31/12

Pan

Saf

106.00
172.00
12.00
190.00
130.00
340.00
260.00
363.60

30.00
40.00
20.00
10.00
60.00
160.00
100.00
-

1,573.60
170.00
10.00
1,000.00
393.60
1,573.60

420.00
20.00
16.00
300.00
84.00
420.00

b
a

112.00
112.00

g
f
a

10.00
12.00
300.00

12.00

10.00

a
c
e
b

360.00
3.60
11.20
112.00

a
d

120
1.2

APER

hod

Cost Method
Consolidated
Statements
1,000.00
-

Pan

Saf

800.00

200.00
c
(100.00)
(52.00) e
d
48.00

24.00

68.00

100.00

68.00
32.00

393.60

390.00

84.00

136.00
212.00
210.00
190.00
500.00
360.00
0.00

106.00
172.00
12.00
190.00
130.00
340.00
260.00
360.00

30.00
40.00
20.00
10.00
60.00
160.00
100.00
-

(600.00)
(257.20)
(9.20)
133.60
360.00
100.00

100.80
1,708.80
190.00
4.00
1,000.00
393.60

121.2
1,708.80

24.00
(500.00)
(194.00)

Adjustment
Debits
Credits

130.00
360.00

1,570.00
170.00
10.00
1,000.00
390.00
1,570.00

420.00
20.00
16.00
300.00
84.00
420.00

11.20
9.20

b
a

112.00
112.00

g
f
a

10.00
12.00
300.00

c
d

24.00
8.00

12.00

10.00

a
c
e
b

360.00
3.60
11.20
112.00

a
d

120
1.2

od
Consolidated
Statements
1,000.00
(600.00)
(257.20)
(9.20)
133.60
360.00
100.00
393.60

136.00
212.00
210.00
190.00
500.00
360.00
100.80
1,708.80
190.00
4.00
1,000.00
393.60

121.2
1,708.80

PAN CORPORATION AND SUBSIDIARY CONSOLIDATION WORKPAPER


FOR THE YEAR ENDED DECEMBER 31, 2011
Adjustment
Debits
Credits
Combined Income and Retained Earnings Statements December 31, 2011
Sales
800.00
700.00
Income From Saf
59.50
c
59.50
Deviden income
Cost of sales
(300.00)
(400.00) e
5.00
Depreciation Expense
(154.00)
(60.00)
f
2.00
g
7.00
Other expenses
(160.00)
(140.00) h
1.00
Non Controlling Interest share
d
25.50
Controlling Share of Net incom
245.50
100.00
Retained earnings 1/1 - Pan
300.00
Retained earnings 1/1 - Saf
100.00
a
100.00
Deduct : Dividends
200.00
50.00
c
35.00
d
15.00
Retained Earnings 31/12
345.50
150.00
Par

Balance Sheet at December 31


Cash
Account Receivable - net
Dividends Receivable
Inventories
Other Current Assets
Land
Buildings - net
Equipment - net
Investment in Saf
Patents / 10
Unamortized Excess
Goodwill
Total Assets
Accounts Payable
Dividends Payable
Other liabilities
Capital stock, $10 par
Retained Earnings
Total Equities
Noncontroliling interest 1/1
Noncontroliling interest 31/12

86.00
100.00
14.00
150.00
70.00
50.00
140.00
570.00
514.50

1,694.50
200.00
100.00
49.00
1,000.00
345.50
1,694.50

70%Sul

60.00
70.00
100.00
30.00
100.00
160.00
330.00
-

850.00
85.00
20.00
95.00
500.00
150.00
850.00

5.00

b
b

14.00
21.00

b
a
b

40.00
100.00
20.00

i
j
a

i
j
e

10.00
14.00
5.00

f
g
a
c
h
b

2.00
7.00
490.00
24.50
1.00
100.00

10.00
14.00
500.00

a
d

210
10.5

Consolidated
Statements

Par

1,500.00
(705.00)
(223.00)

800.00
35.00
(300.00)
(154.00)

(400.00)
(60.00)

(301.00)
(25.50)
245.50
300.00
200.00

(160.00)

(140.00)

221.00
300.00

100.00

200.00

100.00
50.00

345.50

321.00

150.00

146.00
160.00
250.00
100.00
150.00
312.00
914.00
-

86.00
100.00
14.00
150.00
70.00
50.00
140.00
570.00
490.00

60.00
70.00
100.00
30.00
100.00
160.00
330.00
-

39.00
20.00
2,091.00
275.00
106.00
144.00
1,000.00
345.50

220.5
2,091.00

1,670.00
200.00
100.00
49.00
1,000.00
321.00
1,670.00

Adjustment
Debits
Credits

70%Sul
700.00
-

850.00
85.00
20.00
95.00
500.00
150.00
850.00

c
e
f
g
h
d

35.00
5.00
2.00
7.00
1.00
25.50

100.00
c
d

35.00
15.00

i
j
e

10.00
14.00
5.00

5.00

b
b

14.00
21.00

f
g
a

2.00
7.00
490.00

b
a
b

40.00
100.00
20.00

h
b

1.00
100.00

i
j
a

10.00
14.00
500.00

a
d

210
10.5

Consolidated
Statements
1,500.00
(705.00)
(223.00)
(301.00)
(25.50)
245.50
300.00
200.00
345.50

146.00
160.00
250.00
100.00
150.00
312.00
914.00
39.00
20.00
2,091.00
275.00
106.00
144.00
1,000.00
345.50

220.5
2,091.00

PIL CORPORATION AND SUBSIDIARY CONSOLIDATION WORKPAPER


FOR THE YEAR ENDED DECEMBER 31, 2015
Consolidate
Adjustment
d
Pil
80%Stu
Debits
Credits Statements
Combined Income and Retained Earnings Statements December 31, 2015
Sales
300.00
200.00
500.00
Income From Stu
25.00
a
25.00
Cost of sales
(180.00)
(140.00)
(320.00)
Other expenses
(50.00)
(20.00)
8.75
(78.75)
Non Controlling Interest share
b
6.25
6.25
Controlling Share of Net in
95.00
40.00
95.00
Retained earnings 1/1 - Pil
255.00
255.00
Retained earnings 1/1 - Stu
100.00 c
100.00
Deduct : Dividends
(50.00)
(20.00)
a
16.00
50.00
b

Retained Earnings 31/12

300.00

4.00

120.00

300.00

Balance Sheet at December 31


Cash
Trade Receivable - net
Dividends Receivable from Stu
Advance to Stu
Inventories
Plant Assets-net
Investment in Stu
Patent
Excess Cost over BV
Total Assets
Accounts Payable
Dividends Payable
Advance from Pil
Capital stock
Retained Earnings
Total Equities
Noncontroliling interest 1/1
Noncontroliling interest 31/12

41.00
60.00
8.00
25.00
125.00
300.00
191.00

35.00
55.00
35.00
175.00 d
d
c

750.00

300.00

50.00
400.00
300.00

45.00
10.00
25.00
100.00
120.00

750.00

300.00

g
i
h

5.00
8.00
25.00

15.00 e
a
c
12.50 f
27.50 d

2.50
9.00
182.00
6.25
27.50

76.00
110.00
160.00
487.50
6.25

839.75
g
i
h
c

5.00
8.00
25.00
100.00

90.00
2.00
400.00
300.00

792.00
c
b

45.5
2.25

47.75
839.75

a Income From Stu


Dividend
Investment in Stu
b NCI Share
Dividend
NCI
c C/S
R/E
Excess Cost Over BV
Invest in S
NCI

25.00
16
9
6.25
4
2.25
100
100
27.5
182
45.5

d Patent
12.5
Plant Asset
15
Excess Cost Over BV

27.5

e Other Expense
Patent

6.25

f Other Expense
Plant Asset

g Account Payable Pil


Trade receivable
h Advance from pil
Advance to stu
i Dividen Payable
Dividend Recivable

6.25

2.5
2.5

5
5
25
25
8
8

PAT CORPORATION AND SUBSIDIARY CONSOLIDATION WORKPAPER


FOR THE YEAR ENDED DECEMBER 31, 2012

EQUITY METHOD
Adjustment
Debits
Credits
Combined Income and Retained Earnings Statements December 31, 2012
Sales
1,800
600
Income From Sci
76
c
76.00
Deviden income
Cost of sales
(1,200)
(300)
Operating expenses
(380)
(180) e
25.00
Non Controlling Interest share
d
19.00
Controlling Share of Net in
296
120
Retained earnings 1/1 - Pat
244
Retained earnings 1/1 - Sci
100 a
100.00
Deduct : Dividends
(200)
(40)
c
32.00
Pat

Retained Earnings 31/12


Balance Sheet at December 31
Cash
Account Receivable - net
Deviden recevable
Inventories
Advance to Sci
Other current assets
Land
Plant assetsnet
Investment in Sci (560-16)
Goodwill
Unamortized excess
Total Assets
Accounts Payable
Dividends payable
Other liabilities
Capital stock
Retained Earnings
Total Equities
Noncontroliling interest 1/1
Noncontroliling interest 31/12

Sci

340

180

12
52
16
164
40
160
320
680
544

30
40
120
10
60
460 b
b
a

1,988

720

48
200
1,400
340

30
20
90
400
180

1,988

720

8.00

h
f

10
16

40

75 e
a
c
50
125 b

25
500
44

10

f
g
a

16
40
400

a
d

125

125
11

ORKPAPER

HOD

Consolidate
d
Statements
er 31, 2012
2,400.00
(1,500.00)
(585.00)
(19.00)
296
244.00
(200.00)

EQUITY METHOD
Pat
1,800
32
(1,200)
(380)

252

Consolidate
Adjustment
d
Debits
Credits Statements

Sci
600
c

32.00

(300)
(180) e
d

25.00
19.00

120

224
(200)

100 a
(40)

100.00
c
d

32.00
8.00

2,400.00
(1,500.00)
(585.00)
(19.00)
296
224.00
(200.00)

340

276

180

320

42
82
284
170
380
1,190
-

12
52
16
164
40
160
320
680
480

30
40
120
10
60
460 b
i

40

75 e
20 a

25
500

42
82
284
170
380
1,190
-

b
a

50
125 b

125

50
-

50
-

2,198

1,924

720

68
4
250
1,400
340

48
200
1,400
276

30
20
90
400
180

1,924

720

136
2,198

h
f

10
16

2,198
h

10

f
g
a

16
40
400
i

20

a
d

125
11

68
4
250
1,400
340

136
2,198