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Magbitang Ariola

40,000 60,000
10,000 10,000
40,000 60,000

90,000 110,000
Calpito Alejandre Laboguen
95,000 80,000 60,000
12,000
18,500 11,100 7,400

113,500 79,100 67,400

AC CC B/AR
80% OLD 272,000 235,000 37,000
20% NEW 58,000 80,000 (22,000)
TOTAL 330,000 315,000 15,000
Garcia

12,000
58,000

70,000
Domingo Hilario Matias Total
Salary 750 750 1,500
Interest 925 1,625 1,200 3,750
Bonus 1,120
Remainder 4:4:2 2,240 11,200
Net Income 3,440
25%(NI-S-B) 10%(NI-S-B)+149,850

let x equal (NI-S-B)

25%x = 10%x +149850


15%x = 149,850
x = 999,000

Substitution 249,750 = 249,750

Languban Calacien Total Languban Calacien


Salary 450,000 450,000 Salary 149,850 450,000
Bonus 249,750 249,750 Bonus 99,900
Remainder 999,000 999,000 Remainder 999,000
N.I 249,750 1,449,000 1,698,750 N.I 249,750 1,449,000
Total
599,850
99,900
999,000
1,698,750
Macapia Manabat Total
Salary 90,000 135,000 225,000 In order of Priority SALARY->BONUS->INT
Interest 6,000 10,500 16,500
Bonus - - - Macapia 90,000
Remainder 1:2 (58,500) (117,000) (175,500) Manabat 135,000
Net Income 37,500 28,500 66,000 225,000
Priority SALARY->BONUS->INTERST->Remainder

40% 26,400
60% 39,600
exceeds the available net income
Celestino Corpuz Domingcil
30,000 70,000
5,475 12,775

24,525 57,225 29,727

AC CC B/AR
Old 55% 81,750 100,000 (18,250) BONUS METHOD
New: Domingcil 20% 29,727 20,000 9,727
Barnacha 25% 37,159 28,636 8,523
Total 148,636 148,636 -
Barnacha

37,159

Barnacha's Contribution:
Cash 10,000
Equipment 18,636 SQUEEZED
Total 28,636
Estado (40%) Castillo (15%)
83,000 77,000
Assets @ Cost 360,000 28,000 10,500
Assets @ FV 345,000 6,000 2,250
Asset Rev (15,000) 49,000 64,250
49,000 1,750
- 66,000

Estado's Capial (Adjusted) 49,000


Estado's Loan 20,000
Total Interest 69,000
Payment(Inclusive of loan) 62,000
Loss to Estado/ Gain to Remaining (7,000)
Sotto (45%)
180,000
31,500
6,750
141,750
5,250
147,000
50% 25% 25%
Beg. Cash 12,000 Agustin Donato Ramel
Proceeds 66,475 Cap. Interest 22,000 15,500 (15,000)
Liabilities: Paid (34,400) Rate 50% 25% 25%
Unpaid (14,600) LAB 44,000 62,000
Liq. Exp: Paid (1,000) Equalize: (18,000)
Unpaid (14,600) SQUEEZED Bal. After Priority 44,000 44,000
CAD 13,875
Checking
Cap. Interest 22,000 15,500 (15,000)
Max Loss (4,313) (2,156) (2,156)
CAD 17,688 13,344 (17,156)
Absorption (11,438) (5,719) 17,156
Balance 6,250 7,625 -
Distribution
Balance

22,000 15,500 (15,000)


Actual Gain 4,264 2,132 2,132
26,264 17,632 (12,868)
L.E PAID (500) (250) (250)
25,764 17,382 (13,118)
1st Payment (6,250) (7,625) -
Balance after 1st Installment 19,514 9,757 (13,118)
Agustin Donato Ramel Priority 1: Donato 4,500

Exclude
Non-Priority: Donato 3,125
Agustin 6,250
4,500

22,500
(8,625)
13,875
-
13,875

22,500
8,528
31,028
(1,000)
30,028
(13,875)
16,153
NFA (Net Free Assets) TULI (Total Unsecured Liabilities)

Excess of PP-Asset over FS-Liabilities 13,000 Excess of PS-Liability over FP-Assets


Free Assets 100,000 Liaiblities WITHOUT priority
Liabilities WITH priority (20,000)
93,000

POR = NFA/TULI POR for PS-liability


POR = 77%
al Unsecured Liabilities)

PS-Liability over FP-Assets 61,000


WITHOUT priority 60,000

121,000

30,000
35,000
46,884
111,884
126,000
89%
NFA (Net Free Assets) TULI (Total Unsecured Liabilities)

Excess of PP-Asset over FS-Liabilities 86,000 Excess of PS-Liability over FP-Assets


Free Assets 110,000 Liaiblities WITHOUT priority
Liabilities WITH priority (71,000)
125,000

Estimated Deficiency = NFA-TULI POR for PS-liability


Estimated Deficiency = (187,500)

NFA/TULI 40%
al Unsecured Liabilities)

PS-Liability over FP-Assets 132,500


WITHOUT priority 180,000

312,500

91,000
53,000
144,000
223,500
64%
Assets
41,250 52,500
45,000 18,750

Assets: Cash
Liabilities None-cash
45,000 67,500
56,250 22,500
Liab. And Equity: Liab.end
OSC
R/E
Supp. Dr & Cr
58,500 63,750

246,000 225,000
21,000 Loss
69,000 SQUEEZED
18,750
87,750

56,250
16,500
15,000
87,750
Velasco's Inv. In JV Dumaliang's Inv. In JV
60,000,000 60,000,000
26,700,000 26,700,000
86,700,000 86,700,000

Revenue 60,000,000
OPEX: (6,000,000)
(600,000)
Net Income 53,400,000
Investment in Joint Venture
500,000 Revoverable amount
100,000 30,000

570,000 20,000 Impairment loss

550,000
If Silent use EQUITY METHOD

Fair Value Model 600,000

Cost Model 500,000


FV vs V-In-Use
600,000 lower 550,000
Silverio
10,000,000
2,500,000
1,000,000

UL 100,000 18,493 RL 135 days over 365 RG


11,581,507
Intercompany Transactions only
affects the venturer transact with.

The CO-VENTURER are stranger from each other


Reyes
15,000,000
2,500,000
1,000,000

120,000 200,000 UG
16,420,000

er from each other


20,000 80,000
Cash Note
S / /
P / /
C R.A

Initial Franchise Fee: 20,000


80,000
Continuing Franchise Fee: 5000
105,000

Note: Period of refunding the initial franchise fee was presumed to have been expired since
the business operates profitably in its first year of operation.
Orig
50,000 120,092
Cash Note Period Installment Interest
S / /
P / / 1st 50,000 14,411
C NRA 2nd 50,000 10,140
3rd 50,000 5,357

IFF 50,000
1st installment 35,589 the 50,000 net of interest
CFF 30,000
Int. Revenue 14,411 the interest
TOTAL REVENUE 130,000

Revised
50,000 120,092
Cash Note Period Installment Interest
S / /
P / / 1st 50,000 14,411
C RA 2nd 50,000 10,140
3rd 50,000 5,357

Cash 50,000
PV of Note 120,092
IFF 170,092
Divided by Term 3
IFF recognized 56,697 90,031
OR

CFF 30,000 30,000


Int. Revenue 14,411 14,411
TOTAL REVENUE 101,108 134,442
C.A
120,092
84,503
44,643
0

C.A
120,092
84,503
44,643
0
Home Office to Branch 1 500
Branch 1 to Branch 2 700
Total 1,200
The Lower amount is the Freight In
Home Office to Branch 2 (800)
Excess /(Saving) 400 If Excess account is as a loss
If Savings, it is not accounted
AFOBI (25/125) Branch: Sales 300,000
8,000
50,000 B. Inv. 40,000
46,000 Purchases -
12,000 Shp. FROM H.O 250,000
TGAS 290,000
E. Inv. (60,000) (230,000)
Gross Profit 70,000
Expenses (50,000)
N.I@BP 20,000
Realized AFOBI 46,000
Branch TRUE N.I 66,000
Home Office: Sales 600,000

B. Inv. 100,000
Purchases 350,000
Shp. TO Branch (200,000)
TGAS 250,000
E. Inv. (30,000) (220,000)
Gross Profit 380,000
Expenses (120,000)
Net Income H.O 260,000
Branch TRUE N.I 66,000
Galamgam's Net Income 326,000
AFOBI (20/120)
2,000 Divide by 20/120 to Get the Beginnign Inventory From H.O 12,000
1,600 Outsider 3,000
Branch Beg. Inventory 15,000
SQUEEZED
80% 20%
Total PP NCI
FV Subsidiary 215,000 180,000 35,000 35,000
FV Net Assets (consider Tax effect) 157,000 125,600 31,400 vs
GoodWill/(GBP) 58,000 54,400 3,600
Cash 200,000,000 100%
Stocks - Total PP
Contingent Consideration 10,000,000 FV Subsidiary 210,000,000 210,000,000
Deferred Payment - FV Net Assets 116,000,000
210,000,000 GoodWill/(GBP) 94,000,000
FVPHI: 10% -
Purchase Price 210,000,000
NCI
100% 90% 10%
Total PP NCI
FV Subsidiary 271,556 250,000
FV Net Assets 215,556 194,000
GoodWill/(GBP) 56,000 56,000
100% 70% 30%
Total PP NCI
FV Subsidiary 1,780,000 1,420,000 360,000
FV Net Assets 1,200,000 840,000 360,000
GoodWill/(GBP) 580,000 580,000 -

100% 65% 35%


Total PP NCI
FV Subsidiary 524,000 300,000 224,000
FV Net Assets 640,000 416,000 224,000
GoodWill/(GBP) (116,000) (116,000) -
no FIGURE of GBP will appear on BALANCE SHEET
R/E (Mari)
500,000

900,000 SQUEEZED NET INCOME Net Income of Sub


1,400,000
80% 20%
Parent NCI

720,000 180,000
will be included in the CONSOLIDATED R/E
Only The ATTRIBUTABLE TO PARENT
What Happen
Depreciable Cost: 800,000
Annual Dep. 100,000
C.A 12/31/2018 400,000

What SHOULD Happen


Depreciable Cost: 800,000
Annual Dep. 100,000
C.A 01/01/2018 500,000

FV 01/01/2018 460,000 with 5 years estimated Remaining life


New Annual Dep 92,000
C.A 12/31/2018 368,000
90% 10%
Total Purchase Price NCI
Fair Value of Subsidiary
Fair Value of Net Asset
GW (GBP)

P - NI NCI - NI

PNI
Dividends Received
IFOOP

SNI
Amortization of Assets:
UVA
OVA
Gains (GBP,etc)
Impairment Loss (look FV)

Inventory:
RPBI 22,500 2,500
15,000
UPEI (11,250) (1,250)
(5,000)
Depreciable:
UG
Depreciation
UL
Depreciation

Non - Depreciable:
UG
UL

Consolidated Net Income


80% 20%
Total Purchase Price NCI
Fair Value of Subsidiary 23,784,000 19,000,000 4,784,000 4,625,000
Fair Value of Net Asset 23,920,000 19,136,000 4,784,000
GW (GBP) (136,000) (136,000) -

P - NI NCI - NI

PNI 3,600,000
Dividends Received (224,000)
IFOOP 3,376,000

SNI 1,088,000 272,000


Amortization of Assets:
UVA (243,200) (60,800)
OVA
Gains (GBP,etc)
Impairment Loss (look FV)

Inventory:
RPBI

UPEI

Depreciable:
UG
Depreciation
UL
Depreciation

Non - Depreciable:
UG
UL

Consolidated Net Income 4,464,000 211,200


NCI 01/ 01 2018 4,784,000
NCI - NI 2018 211,200
Div. Dec. 2018 (56,000)
NCI 12 /31 2018 4,939,200
90% 10%
Total Purchase Price NCI
Fair Value of Subsidiary 10,000,000 9,000,000 1,000,000 1,000,000
Fair Value of Net Asset 8,000,000 7,200,000 800,000
GW (GBP) 2,000,000 1,800,000 200,000

Goodwill Impaiement 90,000 10,000


90% 10%
Total Purchase Price NCI
Fair Value of Subsidiary 1,620,000 1,458,000 162,000 162,000
Fair Value of Net Asset 522,000 469,800 52,200
GW (GBP) 1,098,000

P-BV 9,000,000
S-FV 612,000
PP (1,458,000)
GoodWill 1,098,000
DC -
IC -
CTIR -
Conso Assets 9,252,000
80% 20%
Total Purchase Price NCI
Fair Value of Subsidiary 9,396,000 7,500,000 1,896,000 1,875,000
Fair Value of Net Asset 9,480,000 7,584,000 1,896,000
GW (GBP) (84,000) (84,000) -

P - NI NCI - NI

PNI 2,880,000
Dividends Received (336,000)
IFOOP 2,544,000

SNI 992,000 248,000


Amortization of Assets:
UVA
OVA
Gains (GBP,etc) 84,000
Impairment Loss (look FV)

Inventory:
RPBI

UPEI

Depreciable:
UG (360,000)
Depreciation 15,000
UL 134,400 33,600
Depreciation (17,920) (4,480)

Non - Depreciable:
UG
UL

Consolidated Net Income 3,391,480 277,120


December 31, 2018 Forex Loss (15,000)
additional:
1st item - The 8,000 loss will go to OCI
2nd item 4,000 From a payable of 64,000 to a payable of 60,000
(11,000)
Seller/Lender 25-Mar-18 31-Dec-18
2,500 Transaction Date Balance Sheet Date
Buying Spot Rate 120,000.00 160,000
40,000 (40,000)
28-Mar-19
Settlement Date
120,000.00
Current Rates
Accounts receivable 200000
Notes Receivable 100000
Prepaid Expense 50000
Goodwill 80000

P 430,000

Current Method
Temporal Method
Historical Rates
220000
110000
55000
85000

P 470,000
Buyer/Borrowe 25-Mar-18 31-Dec-18
31,800 Transaction Date Balance Sheet Date
Selling Spot Rate 76.15 72.35
3.80

120,840
28-Mar-19
Settlement Date
73.15
Seller 24-Dec-17 31-Dec-17
1,000,000 Transaction Date Balance Sheet Date
Hedge Item

Hedging Instruments 1.199 0.012 1.187 (0.023)


12,000 (23,000)
24-Apr-18
Settlement Date

1.210
Assets 146,000.00 10 1,460,000.00 R/E
325,000.00
Liabilities 45,000.00 10 450,000.00
30,000.00 180,000.00
Equity: OSC 60,000.00 11 660,000.00
R/E 475,000.00 475,000.00
CTA (125,000.00)

CTA
50,000.00

75,000.00

125,000.00
Use Historical Rate (The rate when it is DECLARED)
A 8,800 x ) 29,950
3,550
A 8,800 x 3.00 26,400
(2,640)
S 9,680 x 3.00 29,040

A 8,800 x ) 42,300
12,325
B 11,990 x 2.50 29,975
5,775 UUD
S 9,680 x 2.50 24,200
Materials Work-In-Process
Beg. Materials Beg. WIP 400,000
Net, Purchases
Direct Materilas USED Direct Materials USED
Indirect Materials USED Direct Labor
Ending Materials FOH: Ind. Mats. 725,000
Ind. Labor 625,000
OH-Applied 450,000
Ending WIP 500,000

Let x be the WIP End


Let 80%x be the WIP Beg
Costing System:
Actual Normal Standard x+1,000,000 = 80%x+1,700
Materials A A S 20%x =
Labor A A S x=
Overhead A S S
Work-In-Process Finished Goods Gross Sales
Beg. FG Sales Return
Net Sales
1,700,000 COGM COGM
COGS COGS
Ending FG Gross Profit
OPEX
Net Income

x+1,000,000 = 80%x+1,700,000
100,000
500,000
Weighted Average:

I. Compute EUP
DM CC
Started 90,000
EWIP (30,000) 18,000 18,000
Normal Loss - - -
Abnormal Loss - - -
Started and Completed 60,000
BWIP 10,000
Completed and Transferred 70,000 70,000 70,000
EUP 88,000 88,000

II. Compute CPU


2,100,000
DM 23.86
88,000

8,500,000
CC 96.59
88,000

III. Allocate Total Cost 10,600,000

Completed: Completed and Transferred 8,431,818


Normal Loss -
8,431,818

EWIP: DM 429,545
CC 1,738,636
2,168,182
FIFO:

I. Compute EUP
DM CC
Started 90,000
EWIP (30,000) 18,000 18,000
Normal Loss - - -
Abnormal Loss - - -
Started and Completed 60,000 60,000 60,000
BWIP 10,000 4,000 8,000
Completed and Transferred 70,000
EUP 82,000 86,000

II. Compute CPU


2,000,000
DM 24.39
82,000

8,000,000
CC 93.02
86,000

III. Allocate Total Cost 10,600,000

Completed: Beg. 600,000 From Beginning Cost (G


Additional Cost 841,747 From BWIP Current
Started and Completed 7,044,810
Normal Loss -
8,486,557

EWIP: DM 439,024
CC 1,674,419
2,113,443
From Beginning Cost (Given)
From BWIP Current
Materials Work-In-Process
Beg. Materials Beg. WIP -
Net, Purchases
Direct Materilas USED Direct Materials USED 320,000
Indirect Materials USED Direct Labor
Ending Materials FOH: Ind. Mats.
704,000
Ind. Labor
OH-Applied
Ending WIP -
Work-In-Process Finished Goods Gross Sales
Beg. FG - Sales Return
Net Sales
1,024,000 COGM COGM 1,024,000
1,011,200 COGS COGS
Ending FG 12,800 Gross Profit
OPEX
Net Income

CC Actual 708,000
CC-Applied (704,000)
UUD/(OFC) 4,000

COGS
1,011,200
4,000
1,015,200
MT = 18,700 = 10%U

U = 9,000 = 20%U
10,000,000 15,000,000 20,000,000
25.00% 60.00% 87.50%
12/31/2016 12/31/2017 12/31/2018
CITD 1,000,000 6,000,000 14,000,000
PLTD 1,500,000 3,000,000 500,000 3,500,000
CIP 2,500,000 9,000,000 17,500,000
COST RECOVERY METHOD 30.77% 45.45% 77.78%
12/31/2016 12/31/2017 12/31/2018
CITD 40,000,000 50,000,000 70,000,000
PLTD (30,000,000) (10,000,000) 10,000,000 -
CIP 10,000,000 40,000,000 70,000,000
12.50% 60.00% 90.00%
12/31/2016 12/31/2017 12/31/2018
CITD 1,000,000 5,400,000 10,800,000
PLTD 250,000 600,000 (1,000,000)
CIP 1,250,000 6,000,000 9,800,000

12,000,000 Total Cost


Old Contract Price 10,000,000
New Contract Price 11,000,000
U: FMV 7,000
(G)/LOR (1,500) Gain
D 3,300 37.50%
I 8,800
Collections: 2016 25.00% 60,000
2017 24.00% 187,500
2018 30.00% 120,000
367,500
150,000 90,000
150,000

300,000 90,000