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Pam Corporation and Subsidiary

Consolidation Workpapers

For the year ended Dec, 31 2016

( in Thousand )

PAM SUN Adjusment and Limitations Consolidated


Debit Credit Statements
Income Statement
Sales $1600 $400 $2000
Income from Sun 55.2 — a. 55.2
Cost of Sales (1000) (200) (1200)
Other Expenses (388) (104) d. 22.4 (514.4)
Consolidated Net Income $285.6
Noncontrolling Interest Share b. 18.4 (18.4)
((96-22.4) × 25%)
Controlling Share of Net 267.2 96 267.2
Income

Retained Earnings Statments


Retained Earnings―Pam 720 720
Retained Earnings―Sun 136 c. 136
Add : Controlling Share of Net 267.2 96 267.2
Income
Deduct : Dividends (200) (64) a. 48 (200)
b. 16
Retained Earnings―Dec 31 787.2 168 787.2

Balance Sheet 212 60 272


Cash
Account Receivable―Net 344 80 424
Dividends Receivable from Sun 24 e. 24
Inventories 380 40 420
Note Receivable from Sun 20 f. 20
Land 260 120 380
Buildings―Net 680 320 1000
Equipment―Net 520 200 720
Invesment in Sun 727.2 a. 7,2
c. 720
Patents d. 224 d. 22,4 201.6
$3147.2 $840 $3147.6

Accounts Payable 340 40 380


Note Payable to Sun 20 f. 20
Dividends Payable 32 e. 24 8
Capital Stock, $10 Par 2000 600 c. 600 2000
Retained Earnings 787.2 168 787.2
$3147.2 840
Noncontrolling Interest January 1
c.240
(960×25%)
Noncontrolling interest December 31 b. 2.4 242.4
1100 1100 $3147.6

Jurnal Workpaper diatas :

(in Thousands)

a. Income from Sun ((96-22.4) × 75%) 55.2


Dividends (64× 75%) 48
Invesment in Sun 7.2
b Noncontrolling Interest Share ((96-22.4) × 25%) 18.4
. Dividends (64 × 25%) 16
Noncontrolling Interest 2.4
c. Retained Earnings―Sun 136
Capital Stock―Sun 600
Patents 224
Invesment in Sun 720
Noncontrolling interest (960 × 25%) 240
d Other Expense 22.4
. Patents 22.4
224/10 = 22.4
e. Dividends Payable 24
Dividends Receivable from Sun 24
f. Notes Payable to Sun 20
Notes Receivble from Sun 20