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KELOMPOK 7 | KELAS A (S1 AKUNTANSI TRANSFER)

- GANDES ALDIANA CITRA P. F1319022


- NADIYAH SHOFWAH K. F1319044
- SAFINATUN NAJAH F1319054
LATIHAN SOAL BAB 3
E3-1
1. B
2. C
3. D
4. D
5. A

E3-2
1. D
2. B
3. D
4. D
5. A
6. B
7. C

E3-3
1. C. Advance to Hill $75,000 + receivable from Ward $200,000 = $275,000
2. A. Zero, goodwill has an indeterminate life and is not amortized.
3. A. Pow accounts for Sap using the equity method, therefore, consolidated retained earnings is equal to
Pow’s retained earnings, or $2,480,000. 4 d Zero, all intercompany receivables and payables are
eliminated.

E-3-4
1. Implied fair value of San ($1,800 / 90%) $2,000
Less: Book value of San (1,800)
Excess fair value over book value $200
Equipment undervalued 60
Goodwill at January 1, 2011 $140
Goodwill at December 31, 2011 = Goodwill from consolidation $140

2. Consolidated net income


Pin’s reported net income $980
Less: Correction to income from San for depreciation
on excess allocated to equipment [($60,000/3 years)x 90%] (18)
Controlling share of consolidated net income $962

Noncontrolling share of consolidated net income


[$200,000 - $20,000 depreciation] x 10% $ 18
Controlling share of consolidated net income 962
Consolidated net income $980

E3-6
Preliminary computation Cost of Sli stock (Fair value) $2,500
Fair value of Sli’s identifiable net assets 2,000
Goodwill $ 500

1. Journal entry to record push down values


Inventories 40
Land 100
Buildings — net 300
Equipment — net 160
Goodwill 500
Retained earnings 420
Note payable 20
Push-down capital 1,500
2. Sli Corporation
Balance Sheet January 1, 2011 (in thousands)
Assets
Cash $ 140
Accounts receivable 160
Inventories 200
Land 400
Buildings — net 1,000
Equipment — net 600
Goodwill 500
Total assets $3,000
Liabilities
Accounts payable $ 200
Note payable 300
Total liabilities 500
Stockholders’ equity
Capital stock $1,000
Push-down capital 1,500
Total stockholders’ equity 2,500
Total liabilities and stockholders’ equity $3,000

E3-7
1. Pas Corporation and Subsidiary Consolidated
Income Statement for the year 2012 (in thousands)
Sales ($2,000 + $800) $2,800
Less: Cost of sales ($1,200 + $400) (1,600)
Gross profit 1,200
Less: Depreciation expense ($100 + $80) (180)
Other expenses ($398 + $180) (578)
Consolidated net income 442
Less: Noncontrolling interest share ($140  30%) (42)
Controlling interest share of consolidated net income $ 400

2. Pas Corporation and Subsidiary Consolidated


Income Statement for the year 2012 (in thousands)
Sales ($2,000 + $800) $2,800
Less: Cost of sales ($1,200 + $400) (1,600)
Gross profit 1,200
Less: Depreciation expense ($100 + $80 - $12) (168)
Other expenses ($398 + $180) (578)
Consolidated net income 454
Less: Noncontrolling interest share [($140  30%)+ ($12 depreciation x 30%)] (45.6)
Controlling interest share of consolidated net income $ 408.4

E3-8
1. Capital stock The capital stock appearing in the consolidated balance sheet at December 31, 2011 is
$3,600,000, the capital stock of Pob,the parent company.

2. Goodwill at December 31, 2011


Investment cost at January 2, 2011 (80% interest) $1,400
Implied total fair value of Sof ($1,400 / 80%) $1,750
Book value of Sof(100%) (1,200)
Excess is considered goodwill since no other fair value
information is given. $ 550

3. Consolidated retained earnings at December 31, 2011


Pob’s retained earnings January 2
(equal to beginning consolidated retained earnings $1,600
Add: Net income of Pob
(equal to controlling share of consolidated net income) 600
Less: Dividends declared by Pob (360)
Consolidated retained earnings December 31 $1,840

4. Noncontrolling interest at December 31, 2011


Capital stock and retained earnings of Sof on January 2 $1,200
Add: Sof’s net income 180
Less: Dividends declared by Sof (100)
Sof’s stockholders’ equity December 31 1,280
Noncontrolling interest percentage 20%
Noncontrolling interest at book value $ 256
Add: 20% Goodwill 110
Noncontrolling interest December 31 $ 366

5. Dividends payable at December 31, 2011


Dividends payable to stockholders of Pob $ 180
Dividends payable to noncontrolling stockholders ($50  20%) 10
Dividends payable to stockholders outside the Consolidated entity $ 190

E3-9
Pas Corporation and Subsidiary Partial
Balance Sheet at December 31, 2011 (in thousand)
Stockholders’ equity:
Capital stock, $10 par $600
Additional paid-in capital 100
Retained earnings 130
Equity of controlling stockholders 830
Noncontrolling interest 82
Total stockholders’ equity $912

Supporting computations
Computation of consolidated retained earnings:
Pas’s December 31, 2010 retained earnings $ 70
Add: Pas’s reported income for 2011 110
Less: Pas’s dividends (50)
Consolidated retained earnings December 31, 2011 $130

Computation of noncontrolling interest at December 31, 2011


Sal’s December 31, 2010 stockholders’ equity $400
Income less dividends for 2011 ($40 - $30) 10
Sal’s December 31, 2011 stockholders’ equity 410
Noncontrolling interest percentage 20%
Noncontrolling interest December 31, 2011 $ 82

P3-2
1. Schedule to allocate fair value/book value differential
Cost of investment in Set $350
Implied fair value of Set ($350 / 70%) $500
Book value of Set (220)
Excess fair value over book value $280

2. Par Corporation and Subsidiary Consolidated


Balance Sheet at January 1, 2011
Assets
Current assets:
Cash ($70 + $40) $110
Receivables — net ($160 + $60) 220
Inventories ($140 + $60 + $40) 240 $ 570

Property, plant and equipment:


Land ($200 + $100 + $20) $320
Buildings — net ($220 + $140 + $40) 400
Equipment — net ($160 + $80 - $20) 220 940
Goodwill (from consolidation) 180
Total assets $1,690

Liabilities and Stockholders’ Equity Liabilities:


Accounts payable ($180 + $160) $ 340
Other liabilities ($20 + $100 - $20) 100 $ 440

Stockholders’ equity:
Capital stock $1,000
Retained earnings 100
Equity of controlling stockholders 1,100
Noncontrolling interest * 150 1,250
Total liabilities and stockholders’ equity $1,690

P3-3
Cost of investment in Sof January 1, 2011 $5,400
Implied fair value of Sof ($5,400 / 80%) $6,750
Book value of Sof 5,000
Excess of fair value over book value $1,750

Schedule to Allocate Fair Value — Book Value Differential


Fair Value - Book Value Allocation
Current assets $1,000 $1,000
Equipment 2,000 2,000
Bargain purchase * (1,250)
Excess fair value over book value $1,750

P3-6

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