Jawaban Soal Quiz No 2

Elimination Entries tahun 2020:

a) Dr. Investment in Shinx Co. 25.500.000 -
Cr. Retained Earnings (1 Januari 2020) - 25.500.000
(Rp 130.000.000 – Rp 100.000.000) x 85%

b) Dr. Dividend Income 17.000.000 -

Cr. Dividend Declared - 17.000.000

c) Dr. Capital Stock – Shinx Co. 150.000.000 -

Dr. Other Contributed Capital 70.000.000 -
Dr. Retained Earnings (1 Jan 2020) 130.000.000 -
Dr. Difference between IV & BV 10.000.000 -
Cr. Investment in Shinx Co. (85%) - 306.000.000
Cr. NCI in Equity (1 Jan 2020) - 54.000.000

d) Dr. Goodwill 10.000.000 -

Cr. Difference between IV & BV - 10.000.000

e) Dr. Loss on Impairment 1.000.000 -

Cr. Goodwill - 1.000.000
 Porygon Co. and Subsidiary
Consolidation Financial Statement Work Paper
for the year ended December 31, 2020
Description Porygon Co Shinx Co. Adj & Elimination NCI Consolidated
Dr Cr Balances
Income Statement:
Sales 146,500,000 88,000,000 234,500,000
Dividend Income 17,000,000 - b) 17,000,000 -
Total Revenues 163,500,000 88,000,000 234,500,000
Cost of Sales 50,000,000 25,000,000 75,000,000
Operating Expense 25,500,000 13,000,000 38,500,000
Loss on Impairment - - e) 1,000,000 1,000,000
Total Cost & Expenses 75,500,000 38,000,000 114,500,000
Consolidated Income 88,000,000 50,000,000 120,000,000
NCI in Income - - 7,350,000 7,350,000
Net Income to R/E 88,000,000 50,000,000 18,000,000 - 7,350,000 112,650,000

R/E Statement:
R/E, 1 January 2020 220,000,000 130,000,000 c) 130,000,000 a) 25,500,000 245,500,000
Net Income from above 88,000,000 50,000,000 18,000,000 - 7,350,000 112,650,000
Dividend Declared (45,000,000) (20,000,000) b) 17,000,000 (3,000,000) (45,000,000)
R/E, 31 December 2020 263,000,000 160,000,000 148,000,000 42,500,000 4,350,000 313,150,000

Balance Sheet:
Cash 95,187,500 93,000,000 188,187,500
Accounts Receivable 30,000,000 48,000,000 78,000,000
Inventories 83,312,500 74,000,000 157,312,500
Investment in Shinx Co. 280,500,000 - a) 25,500,000 c) 306,000,000 -
Land 158,000,000 150,000,000 308,000,000
Vehicle - net 100,000,000 95,000,000 195,000,000
Equipment - net 53,000,000 50,000,000 103,000,000
Difference between IV & BV - - c) 10,000,000 d) 10,000,000 -
Goodwill - - d) 10,000,000 e) 1,000,000 9,000,000
TOTAL ASSETS 800,000,000 510,000,000 1,038,500,000

Accounts Payable 77,000,000 40,000,000 117,000,000

Notes Payable 160,000,000 90,000,000 250,000,000
Capital Stock 210,000,000 150,000,000 c) 150,000,000 210,000,000
Other Contributed Capital 90,000,000 70,000,000 c) 70,000,000 90,000,000
R/E from above 263,000,000 160,000,000 148,000,000 42,500,000 4,350,000 313,150,000
NCI in Equity, 1 January 2020 - - c) 54,000,000 54,000,000
NCI in Equity, 31 Dec 2020 - - 58,350,000 58,350,000

TOTAL LIABILITIES & EQUITY 800,000,000 510,000,000 1,038,500,000

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Jawaban Soal Quiz No 3

a. CAD Schedule
Parents (90%) NCI (10%) Total
Purchase price & implied value 2,700,000,000 300,000,000 3,000,000,000
Less: book value of equity
Common Stock 900,000,000 100,000,000 1,000,000,000
Retained Earnings 900,000,000 100,000,000 1,000,000,000
Total book value (1,800,000,000) (200,000,000) (2,000,000,000)
Difference between book value & implied value 900,000,000 100,000,000 1,000,000,000
Allocation difference book value & implied value
Inventory (90,000,000) (10,000,000) (100,000,000)
Office Equipment (270,000,000) (30,000,000) (300,000,000)
Land (360,000,000) (40,000,000) (400,000,000)
Balance 180,000,000 20,000,000 200,000,000
Record new goodwill (180,000,000) (20,000,000) (200,000,000)
Balance 0 0 0

b. Jurnal penyesuaian dan worksheet entries 2020 dan 2021

2020 (Rp) 2021 (Rp)
Investment in Game Co. 225,000,000 270,000,000
Equity in subsidiary 225,000,000 270,000,000
income

Equity in subsidiary income 144,000,000 72,000,000

Investment in Game Co. 144,000,000 72,000,000

Equity in subsidiary income 225,000,000 270,000,000

Investment in Game Co. 225,000,000 270,000,000

Investment in Game Co. 144,000,000 72,000,000

Equity in subsidiary 144,000,000 72,000,000
income

Common Stock – Game Co. 1,000,000,000 1,000,000,000

Retained Earnings – Game Co. 1,000,000,000 1,250,000,000
Difference between IV & BV 1,000,000,000 1,000,000,000
Investment in Game Co. 2,700,000,000 2,925,000,000
Non-controlling interest 300,000,000 325,000,000

Inventory 100,000,000 100,000,000

Office Equipment 300,000,000 300,000,000
Land 400,000,000 400,000,000
Goodwill 200,000,000 200,000,000
Difference between IV 1,000,000,000 1,000,000,000
& BV
COGS 100,000,000
Inventory 100,000,000

Depreciation Expense 60,000,000

Office Equipment 60,000,000

Investment in Game Co. 90,000,000

Non-controlling interest 10,000,000
Inventory 100,000,000

Depreciation Expense 60,000,000

Investment in Game Co. 54,000,000
Non-controlling interest 6,000,000
Office Equipment 120,000,000

Loss on impairment – Goodwill 20,000,000

Goodwill 20,000,000