QUIZ 2 – KELAS E

1. Black Corporation acquired 100% of White Corporation’s common stock on December 31, 20X2
and paid $182,000 cash. Below, balance sheet data for the two companies immediately
following the acquisition:
BLACK WHITE
Total Assets 725,000 378,000
Total Liabilities 377,000 221,750
Equities:
- Common Stock 150,000 60,000
- Retained Earnings 198,000 96,250

At the date of the business combination, the book values of White’s net assets and liabilities
approximated fair value except for inventory and land, which had an increased FV of $2,000,
and $10,000, respectively. What amount of total stockholders’ equity will be reported in the
consolidated balance sheet prepared immediately after the business combination?
A. $324,250. C. $348,000.
B. $408,000. D. $210,000.

2. Based on data no. 1 above. What amount of goodwill will be reported in the consolidated
balance sheet prepared immediately after the business combination?
A. $6,250. C. $25,750.
B. $12,000. D. $13,750.

3. Based on data no. 1 above, if Black Corporation acquired 85% of White Corporation’s common
stock on December 31, 20X2 and paid $153,000 cash (other data remains unchanged), What
amount of consolidated total assets will be reported in the consolidated balance sheet
prepared immediately after the business combination?
A. $922,750. Should be 973,750 C. $921,000.
B. $1,103,000. D. $1,115,000.

4. Based on data no. 1 above, if Black Corporation acquired 85% of White Corporation’s common
stock on December 31, 20X2 and paid $153,000 cash (other data remains unchanged), What
amount of NCI in net assets of Moon will be reported in the consolidated balance sheet
prepared immediately after the business combination?
A. $22,950. C. $52,200.
B. $27,000. D. $31,500.

5. Black Corporation holds 80 percent of the stock of White Productions Inc. During 20X4, Black
purchased an inventory of snack bar items for $40,000 and resold $30,000 to White
Productions for $48,000. White Productions Inc. reported sales of $67,000 in 20X4 and had
inventory of $16,000 on December 31, 20X4. The companies held no beginning inventory and
had no other transactions in 20X4. What amount of net income will be reported in the 20X4
consolidated income statement?
A. $12,000 C. $40,000
B. $14,000 D. $47,000

6. Black Corporation purchased inventory from White Corporation for $100,000 on September
20, 20X1, and resold 75 percent of the inventory to unaffiliated companies prior to December
31, 20X1, for $105,000. White produced the inventory sold to Black for $75,000. Black owns
80 percent of White’s voting common stock. The companies had no other transactions during
20X1. What inventory balance will be reported by the consolidated entity on December 31,
20X1?
A. $20,000. C. $26,250.
B. $25,000. D. $18,750.

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 QUIZ 2 – KELAS E

CONSOLIDATION WORKSHEET

Emerald Corp. mengakuisisi 80% saham biasa Ruby Corp. dan membayar tunai $220,800, senilai 80%
nilai wajar aset bersih Ruby per 1 Januari 2015. Pada tanggal tersebut nilai wajar individual aset
dan liabilitas Ruby sama dengan nilai bukunya, kecuali tanah dan aset tetap disusutkan yang
meningkat nilai wajarnya masing-masing sebesar $6,000 dan $35,000. Sisa umur ekonomis aset
tetap tersebut 7 tahun. Aset tetap tersebut didepresiasikan dengan metode garis lurus tanpa nilai
sisa. Berikut ini ikhtisar data hasil operasi Emerald dan Ruby per 31 Desember 2016.

Trial Balance as of December 31, 2016

EMERALD RUBY
Account Debit Credit Debit Credit
Cash $ 183,050 $ 63,750
Accounts Receivable 112,500 48,000
Inventories 133,600 57,500
Investment in RUBY ?????
Land 131,250 50,000
Buildings and Equipments 600,000 450,000
COGS 135,000 120,000
Depreciation Expenses 37,500 15,000
Other Expenses 45,000 33,750
Accumulated Depreciation 375,000 255,000
Accounts Payable 75,000 75,000
Bond Payable 150,000 75,000
Share Capital-Ordinary 375,000 150,000
Sales 337,500 225,000

Informasi lainnya:
EMERALD RUBY
Retained Earnings, Jan 1, 2016 $ 315.000 $ 90.000
Dividend Declared, Dec 2016 48.000 32.000
Accumulated Depreciation, Jan 1, 2015 300.000 225.000
Share Capital-Ordinary, Dec 31, 2015 375.000 150.000

 Untuk periode 2015, Ruby membukukan laba bersih $40,000 dan membagikan dividen
$25,000.
 Per 31 Desember 2016, tanah dan bangunan masih dimiliki Ruby, sedangkan goodwill
mengalami penurunan nilai sebesar $2,000 per 31 Desember 2015.
 Pada awal Oktober 2016, Ruby membeli persediaan dari Emerald seharga $96,000. Per 31
Desember 2016, 80% dari persediaan tersebut telah terjual. Emerald menjual
persediaannya baik ke Ruby maupun non-afiliasi dengan margin kontribusi 40%.

Instruksi:

- Buat jurnal untuk Emerald terkait investasinya pada Ruby selama tahun 2016.
- Buat kertas kerja konsolidasi per 31 Desember 2016, serta jurnal eliminasi dan perhitungan
nilai buku untuk menyusun kertas kerja tersebut.

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 QUIZ 2 – KELAS E

JAWABAN PG:

1. Consolidated SE = SE’s Black = 150+198 = 348

2. Goodwill = AP-FV = 182 – (60+96,25+10+2) = 13,75
3. 100% FV = 153/85% = 180.  total Diff = total FV – BV = 180-(60+96,25) = 23,75
Consolidated Assets = (725+378) + 23,75 – 153 = 973,75
4. 100% FV = 153/85% = 180.  NCI = 180 – 153 = 27
5. Income White = 67 – (48-16) = 35.  assigned to Black = 80% x 35 = 28
Intercompany profit = 48 – 30 = 18. Deferred due to unsold = (16/48) x 18 = 6
Income Black = (48 – 30) + (28 – 6) = 40
6. Ending Inventory White = 0 (all sold to Black). Ending Inventory Black = 25% x 100 = 25
Intercompany profit = 100 – 75 = 25. Ending Inventory Black 25% overstated.
Consolidated inventory = (25 + 0) – (25% x 25) = 18.75

JURNAL 2016 (EMERALD):

FV CI 80% a 220,800 RE Jan 1, 2016 90,000

FV NCI 20% b 55,200 =c-a Dividend 2015 25,000
TOTAL FV c 276,000 =a/80% Income 2015 (40,000)
BV: CS 150,000 RE Jan 1, 2015 75,000
RE 75,000 (225,000)
Total Differential 51,000
Land (6,000)
PPE (35,000)
Goodwill 10,000

INVENTORY
Sales 96,000 80% GP sold 30,720
COGS 57,600 20% GP still on hand 7,680
GP 38,400 40% x sales

Book value calculation NCI 20% + 80% = SC + RE

Book value, Jan 1, 2016 48,000 192,000 150,000 90,000

(+) Net Income 11,250 45,000 56,250
(-) Dividend (6,400) (25,600) (32,000)
Ending BV, Dec 31, 2016 52,850 211,400 150,000 114,250
Deferred profit (inventory) 0 (7,680)
52,850 203,720

Recorded Income from Ruby (2016)

Dr. Investment in Ruby 45.000
Cr. Income from Ruby 45.000

Recorded Dividend from Ruby (2016)

Dr. Dividend Declared/Cash 25.600
Cr. Investment in Ruby 25.600

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 QUIZ 2 – KELAS E

Differential calculation NCI 20% + Emerald 80% = Land + PPE + Acc. Depr + Goodwill

Balance January 1, 2015 10,200 40,800 6,000 35,000 - 10,000

Changes (1,400) (5,600) - (5,000) (2,000)
Balance Dec 31, 2015 8,800 35,200 6,000 35,000 (5,000) 8,000
Changes (1,000) (4,000) (5,000)
Balance Dec 31, 2016 7,800 31,200 6,000 35,000 (10,000) 8,000
52,850 203,720
60,650 234,920

Recorded Deferred Income from unsold inventory

Dr. Income from Ruby 7,680
Cr. Investment in Ruby 7,680

Recorded Amortization of excess acquisition price

Dr. Income from Ruby 4,000
Cr. Investment in Ruby 4,000

BASIC ELIMINATION ENTRY

Dr. Commom Stock 150,000
Retained Earnings 90,000
Income from Ruby 37,320 (45000-7680)
NCI in NI of Ruby 11,250
Cr. Dividend Declared 32,000
Investment in Ruby 203,720 (211400-7680)
NCI in NA of Ruby 52,850

Amortization Excess Value Reclassification

Dr. Depreciation Expense 5,000
Cr. Income from Ruby 4,000
NCI in NI of Ruby 1,000

Excess Value (Differential) Reclassification

Dr. Land 6,000
PPE 35,000
Goodwill 8,000
Cr. Accumulated Depreciation 10,000
Investment in Ruby 31,200
NCI in NA of Ruby 7,800

Elimination inventory still on hand (purchase from Emerald)

Dr. Sales 96,000
Cr. COGS 88,320 [57600+(38400x80%)]
Inventory 7,680 (38400 x 20%)

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 QUIZ 2 – KELAS E

OPTIONAL ELIMINATION ENTRY

Dr. Depreciation Expense 225.000
Cr. Accumulated Depreciation 225.000

ELIMINATION ENTRIES
Account Name EMERALD RUBY CONSOLIDATED
DEBIT CREDIT
INCOME STATEMENT
Sales 337,500 225,000 96,000 466,500
COGS (135,000) (120,000) 88,320 (166,680)
Operating Expense (37,500) (15,000) (52,500)
Depreciation Expense (45,000) (33,750) 5,000 (83,750)
Income from RUBY 33,320 37,320 4,000 -
Consolidated Net Income 153,320 56,250 138,320 92,320 163,570
NCI in NI of RUBY 11,250 1,000 (10,250)
Controlling Interest 153,320 56,250 149,570 93,320 153,320

STATEMENT of CHANGES in RE
Beginning Retained Earnings 315,000 90,000 90,000 315,000
Net Income 153,320 56,250 149,570 93,320 153,320
Less: Dividend declared (48,000) (32,000) 32,000 (48,000)
Ending Retained Earnings 420,320 114,250 239,570 125,320 420,320

STATEMENT of FINANCIAL POSITION

ASSETS:
Cash 183,050 63,750 246,800
Accounts Receivable 112,500 48,000 160,500
Inventories 133,600 57,500 7,680 183,420
Investment in RUBY 234,920 203,720 -
31,200
Land 131,250 50,000 6,000 187,250
Buildings and Equipments 600,000 450,000 35,000 225,000 860,000
Accumulated Depreciation (375,000) (255,000) 225,000 10,000 (415,000)
Goodwill 8,000 8,000
TOTAL 1,020,320 414,250 274,000 477,600 1,230,970

LIABILITIES & EQUITIES

Accounts Payable 75,000 75,000 150,000
Bond Payable 150,000 75,000 225,000
Share Capital-Ordinary 375,000 150,000 150,000 375,000
Retained Earnings 420,320 114,250 239,570 125,320 420,320
NCI in NA of RUBY 52,850 60,650
7,800
TOTAL 1,020,320 414,250 389,570 185,970 1,230,970

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QUIZ 2 – KELAS E

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