Akuntansi Lanjutan II Laporan konsolidasi

Nama               : Clara Monalisa

NIM                 : 43217010157

Subjek             : Tugas Kuis 4 “Akuntansi Lanjutan II” 




“LAPORAN KEUANGAN KONSOLIDASI” 

Buatlah 2 contoh lengkap sesuai dengan 2 metode laporan keuangan Konsolidasi [lengkap, mulai jurnal, penyesuaian, pra konsolidasi, konsolidasi,  sampai pasca konsolidasi] 




Example Cost Method : 

1.     Example Parent Company Entries, Liquidating Dividend

Percy Company purchased 80% of the outstanding voting shares of Song Company at the beginning of 2009 for $ 387,000. At the time of purchase, Song Company"s total stockholders" equity amounted to $ 475,000. Income and dividend distributions for Song Company from 2009 through 2011 are as follows:



2009

2010

2011


Net income (loss)

$63,500

$52,500

($55,000)


Dividend distribution

25,000

50,000

35,000




Required:

Prepare journal entries on the books of Percy Company from the date of purchase through 2011 to account for its investment in Song Company uses the cost method to record its investment.

Solution : 

Journal Entry under Percy Company uses the cost method to record its investment : 

Year 1 Book At Beginning of 2009 

Investment in Song Company                         $387,000

                        Cash                                                                            $387,000

To record Percy Company purchased 80% of the outstanding voting shares of Song Company 

Cash ($25,00 x 80%)                                      $20,000

Dividend Received                                                     $20,000

Year 2 Book 2010 

Cash ($50,000 x 80%)                                    $40,000

                        Dividend Received                                                      $40,000           

Year 3 Book 2011

Cash ($35,000 x 80%)                                    $28,000

                        Dividend Received                                                     $28,000

Example : Consolidated Workpapers, Two Consecutive Years, Cost Method

On January 1, 2010, Parker Company purchased 95% of the outstanding common stock of Sid Company for $160,000. At that time, Sid’s stockholders’ equity consisted of common stock, $120,000; other contributed capital, $10,000; and retained earnings, $23,000. 





Parker

Sid


Cash

$ 62,000

$ 30,000


Accounts Receivable

32,000

29,000


Inventory

30,000

16,000


Investment in Sid Company

160,000

-


Plant and Euqipment

105,000

82,000


Land

29,000

34,000


Dividens Declared

20,000

20,000


Cost of Good Sold

30,000

40,000


Operating Expenses

20,000

14,000


         Total Debits

$ 588,000

$ 265,000


Accounts Payable

$ 19,000

$ 12,000


Other Liabilities

10,000

20,000


Common Stock

180,000

120,000


Other Contributed Capital

60,000

10,000


Retained Earnings 1/1

40,000

23,000


Sales

260,000

80,000


Dividend Income

19,000

-


         Total Credit

$ 588,000

$ 265,000






Required :

·     Prepare a consolidated statements workpaper on Dec. 31, 2010.

Solution : 

·     Year of Acquisition





Elimination

Consolidated Balance


Income Statement

Parker

Sid

Debit

Kredit

Nci

Balance


Sales 

$ 260,000

$ 80,000










$ 340,000


Dividend Income

 19,000




19,000







-


     Total Revenue 

279,000

80,000










340,000


Cost of goods sold

130,000

40,000










170,000


Other expenses 

20,000

14,000










34,000


    Total cost and expenses

150,000

54,000










204,000


Net Income 

129,000

26,000










136,000


Noncontroling Interest













1,300

(1,300)


Net Income

$ 129,000

$ 26,000

$ 19,000




$ 19,000

$ 134,700



*Keterangan : 26,000 x 5% = 1,300


Retained Earnings Statement


Retained Earning, 1/1/10

40,000

23,000

23,000







40,000


Net Income

129,000

26,000

19,000




1,300

134,700


Dividends declared

(20,000)

(20,000)




19,000

(1,000)

(20,000)


Retained earnings, 12/31/10

$ 149,000

$ 29,000

$ 42,000

$ 19,000

$ 300

$ 154,700



**Keterangan : 20,000 x 5 % = 1,000

·     After Year of Acquisition 





Elimination




Consolidated

Balance


Balance Sheet

Parker

Sid

Debit

Kredit

Nci


Cash

$ 62,000

$ 30,000










$ 92,000


Accounts receivable

 32,000

29,000










61,000


Inventory 

30,000

16,000










46,000


Investment in Sid

160,000

-




160,000




-


Difference (cost & book)







15,421

15,421




-


Plant and equipment

105,000

82,000










187,000


Land

29,000

34,000










63,000


Goodwill







15,421







15,421


          Total assets

$ 418,000

$ 191,000










$ 464,421


Accounts payable

$19,000

$12,000










$31,000


Other liabilities

10,000

20,000










30,000


Common stock

180,000

120,000

120,000







180,000


Other contributed capital

60,000

10,000

10,000







60,000


Retained earnings

149,000

29,000

42,000

19,000

300

154,700


Noncontrolling interest 1/1










8,421

8,421

-


Noncontrolling interest 12/31













8,721

8,721


Total liabilities & equity

$ 418,000

$ 191,000

$ 202,842

$ 202,842




$ 464,421






2.     Peg Corporation owns 90 percent of the voting stock of Sup Corporation and 25 percent of the voting stock of Ell Corporation. 




The 90 percent interest in Sup was acquired for $18,000 cash on January 1, 2011, when Sup’s stockholders’ equity was $20,000 ($18,000 capital stock and $2,000 retained earnings). 




Peg’s 25 percent interest in Ell was purchased for $7,000 cash on July 1, 2011, when Ell’s stockholders’ equity was $24,000 ($15,000 capital stock, $6,000 retained earnings, and $3,000 current earnings—first half of 2010). 




The difference between fair value and book value is due to unrecorded patents and is amortized over 10 years. 




Adjusted trial balances of the three associated companies at December 31, 2011, are as follows: 





Peg

Sup

Ell


Cash

$ 18,950

$ 4,000

$ 1,000


Other current assets

40,000

11,000

10,000


Plant assets – net

120,000

14,000

20,000


Investmennt in Sup – 90 Percent

19,800

-

-


Investment in Ell 25 %

6,450

-

-


Cost of sales

60,000

16,000

15,000


Other expenses

25,000

7,000

9,000


Dividens (paid in November)

10,000

3,000

5,000


     Total Debits

$ 300,200

$ 55,000

$ 60.000


Current liabilities

$ 25,000

7,000

$ 9,000


Capital stock

150,000

18,000

15,000


Retained earnings

20,000

2,000

6,000


Sales

100,000

28,000

30,000


Income from Sup

4,500

-

-


Income from Ell

700

-

-


       Total Credits

$ 300,200

$ 55,000

$ 60,000






Required : 

1. Summarize the changes in Pep Company’s Investment in Sim account from January 5, 2011, through December 31, 2014. 

2.Prepare consolidation workpapers for Pep Company and Sim for 2014 using the trial balance approach for your workpapers. 

Solution : 

Journal entries on Peg’s books

January 1, 2011

                Investment in Sup (90%)                                   18,000

                                                             Cash                                                     18,000

               

July 1, 2011 

                 Investment in Ell (25%)                                       7,000

                                                             Cash                                                     7,000




          Cash                                       2,700

                                                             Investment in Sup                                2,700

                               To record Dividend ( 90% x $ 3,000 = $ 2,700 )




November 2011

   

              Cash                                        1,250

                                                              Investment in Ell                                1,250

                               To record Dividend ( 25% x $ 5,000 = $ 1,250)




December 31, 2011




                 Investment in Sup (90%)                     4,500

                                                  Income from Sup                               4,500

To record Share of Sup’s reported income [ ($28,000 - $23,000) ´90% = 4,500 ]

December 31, 2011




               Investment in Ell (25%)                       700

                                                              Income from Ell                                  700

           
To record investment income from Ell : 
Share of Ell’s reported income : ($30,000-$24,000)´1/2 year ´ 25%                            = $ 750
Less: Amortization of excess  [$7,000 – ($24,000 ´ 25%)] ¸ 10 years ´ 1/2 year         = $ 50
                                                                                                                                            $ 700

Peg Corporation

Income Statement

For The Year Ended December 31, 2011

Revenues 

     Sales                                                                                             $ 100,000

     Income from Sup                                                                                4,500

     Income from Ell                                                                                     700

            Total revenue                                                                                                        $ 105,200

Costs and expenses

     Cost of sales                                                                                  $ 60,000              

     Other expenses                                                                                  25,000

            Total costs and expenses                                                                                      $ 85,000

            Net income                                                                                                           $ 20,200

Peg Corporation

Retained Earnings Statement

For The Year Ended December 31, 2011
 
Retained earnings January 1                                                                             $ 20,000
Add: Net income                                                                                                  20,200
Deduct: Dividends                                                                                            ( 10,000)
      Retained earnings December 31                                                                 $ 30,200
 

Peg Corporation

 Balance Sheet

At December 31, 2011

Assets 
   Current assets:
            Cash                                                                        $  18,950
Other current assets                                                    40,000
Plant assets — net                                                     120,000
      Investments:
            Investment in Sup (90%)                                        $ 19,800
            Investment in Ell (25%)                                              6,450

Total assets                                                                                          $ 205,200
Liabilities and stockholders’ equity
            Current liabilities                                                                                   $ 25,000
            Stockholders’ equity :
            Capital stock                                                           $ 150,000
            Retained earnings December 31                                 30,200               180,200
            Total liabilities and stockholders’ equity                                            $ 205,200
 
 

 
Peg
Sup 90 %
Adjustmeny and Eliminations
Income Statement
Retained Earnings
Balance Sheet

Debits :
Cash
 
$ 18,950
 
$ 4,000
 
 
 
 
 
$ 22,950

Other current asstes
40,000
11,000
 
 
 
 
51,000

Plant assets - net
120,000
14,000
 
 
 
 
 

Investment in Sup
19,800
-
 
a.     1,800
b.     18,000
 
 
 

Investment in Ell
6,450
-
 
 
 
 
6,450

Cost of sales
60,000
16,000
 
 
$ 76,000**
 
 

Other expenses
25,000
7,000
 
 
32,000***
 
 

Dividens
10,000
3,000
 
a.     2,700
   300*
 
$ 10,00
 

Total debits
$ 300,200
$ 55,000
 
 
 
 
$ 214,000

Credit
Current - liabilities
$ 25,000
$ 7,000
 
 
 
 
$ 32,000

Capital stock
150,000
18,000
b.18,000
 
 
 
150,000

Retained earnings
20,000
2,000
b.2,000
 
20,000
 
 

Sales
100,000
28,000
 
128,000
 
 
 

Income from Sup
4,500
 
a.4,500
 
 
 
 

Income from Ell
700
 
 
700
 
 
 

Total credits
$ 300,200
$ 55,000
 
 
 
 
 

Noncontrolong interest – January 1
 
 
 
b.2,000
 
 
 

Noncontrolling interest share ($5,000 x 10%)
500
 
500
 
 

Controlling share of NI
 
 
$ 20,200
20,200
 

Consolidated retained earnings
 
 
 
$ 30,200
30,200

Noncontrolling interest December 31
 
d.200
 
 
2,200


                                                                                                                                         $ 214,400
Ket: : 
*300 (3.000 - 2.700) 
**76.000 (60.000 + 16.000)
***32.000 (25.000 + 7.000)
 

Peg Corporation and Subsidiary

Consolidated Income Statement
For The Year Ended December 31, 2011
 

Revenues                                                                                                        

     Sales                                                                                              $ 128,000                                
      Income from Ell (equity method)                                                           700
            Total revenues                                                                                                      $ 128,700
Costs and expenses
      Cost of sales                                                                                      $ 76,000
      Other expenses                                                                                     32,000
            Total costs and expenses                                                                                           108,000
      Total consolidated income                                                                                                27,000
      Less: Noncontrolling interest share                                                                                    (500)
             Controlling share of NI                                                                                              20,200

Peg Corporation and Subsidiary

Consolidated Retained Earnings Statement
For The Year Ended December 31, 2011
 

Consolidated retained earnings January 1                                                                           $ 20,000

Add: Controlling share of NI                                                                                                 20,200
Deduct: Dividends                                                                                                                (10,000)
      Consolidated retained earnings December 31                                                               $ 30,200

Peg Corporation and Subsidiary

Consolidated Balance Sheet
At December 31, 2011




Assets 
            Current assets:
               Cash                                                                                    $ 22,950
               Other current assets                                                               51,000                $ 73,950
Plant assets — net                                                                                                 134,000
            Investments and other assets:
                  Investment in Ell                                                                                                6,450

Total assets                                                                                                                    $ 214,400
      Liabilities and stockholders’ equity
            Current liabilities                                                                                                  $ 32,000
            Stockholders’ equity:
            Capital stock                                                                          $ 150,000
            Consolidated retained earnings                                                   30,200
            Noncontrolling interest                                                                 2,200              $ 182,400
            Total liabilities and stockholders’ equity                                                             $ 214,400
 
 

Sumber Soal : 

Jeter, Paul K. Chaney. (2011). Advanced Accounting. 5thEdition. John Wiley & Sons, Inc. 

Beams, F.A, Robin P Clement, Joseph H. Anthony, Suzanne Lowensohn . (2011). Advance accounting 11 th Edition. Prentice Hal