Thanos SA

Merry SA 90% Elimination Consolidatio

Debit Credit n
Income and Retained Earning Statement
Sales 4,800 3,700 c1 800 7,700
Income from Merry SA 380 e 380 -
Gain on sales of land - 200 b1 200 -
Gain on sales of equipment 100 - b2 100 -
Interest Income 70 - a2 70 -
Gain on retirement of bonds a1, a 60 60
Cost of sales (2,800) (2,400) c2 100 c1 800 (4,500)
Interest expense (100) - a2 50 (50)
Other expenses (1,100) (700) (1,800)
NCI Share g 60 (60)
CI 1,350 800 1,350
Retained earnings, December 31,2013 3,380 2,085 d 2,085 d 85 3,465
Dividends (300) (100) e, f 100 (300)
Retained earnings, December 31,2014 4,430 2,785 4,515

Balance Sheet
Cash 790 600 1,390
Accounts Receivable 1,000 400 1,400
Interest Receivable - 25 25
Inventory 1,100 700 c2 100 1,700
Land 1,900 800 b1 200 2,500
Equipment-net 1,100 1,400 b2 100 2,400
Building-net 2,000 1,400 3,400
Investment in Thanos SA bonds - 460 a1 460 -
Investment in Merry SA Stock 3,890 - d, e 3,890 -
Goodwill -
Amount 11,780 5,785 12,815

Accounts payable 1,300 1,000 2,300

Interest payable 50 - 50
10% bonds payable 1,000 - a1 500 500
Common stock 5,000 2,000 d 2,000 5,000
Retained earnings 4,430 2,785 4,515
NCI, December 31, 2013 d 400 400
NCI, December 31, 2014 g 50 50
Amount 11,780 5,785 6,295 6,295 12,815
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 Elimination
Poe Saw (90%)
Debit Credit Consolidation
Income and Retained Earning Statement
Sales 710 485 3a 60 1,135
Cost of Good Sold (490) (400) 3b 10 3a 60 (840)
Gain on sales of equipment - 21 2a 21 -
Gain on retirement of bonds - - 1a 9 9
Earnings from investment in subsidiary 48 - 5 48 -
Interest expense - (16) (16)
Depreciation (25) (20) 2b 7 (38)
Noncontrolling Share - - 7 7 (7)
Net Income 243 70 243
Retained Earnings December, 31 2010 272 100 4 100 272
Devidend Paid (80) (30) 5,7 30 (80)
Retained earnings, December 31,2011 435 140 435

Balance Sheet
Assets
Cash 50 15 65
Inventories 230 135 3b 10 355
Equipment 440 360 2a 21 779
Accumulated Depreciation (200) (120) 2b 7 (313)
Investment In Saw 174 - 5 174 -
Investment in Bonds 91 - 1a 91 -
Goodwill - - 4 20 20
Amount 785 390 906
-
Liabilities and Equity -
Bonds Payable - 200 1a 100 100
Common stock 100 10 4 10 100
Additional Paid in Capital 250 40 4 40 250
Retained earnings 435 140 435
-
NCI, December 31, 2010 - - 4 17 17
NCI, December 31, 2011 - - 7 4 4
Amount 785 390 423 423 906
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