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Nama : Gina Purdiyanti Tugas Akuntansi Keuangan Lanjutan I

NIM : 20181211031 Pertemuan ke-1


Chapter 2 (Reporting Intercorporate Investments an
Kelas : AK51R with No Differential)
Asisten Dosen : Ka Intan Saraswati

P2-26

Paper Company Scissor Company


Accounts
Dr Cr Dr Cr
Cash $ 232,000 $ 116,000
Acconts Receivable $ 165,000 $ 97,000
Inventory $ 193,000 $ 115,000
Investment in Scissor Stock $ 515,000 $ -
Land $ 250,000 $ 125,000
Buildings and Equipment $ 875,000 $ 250,000
Cost of Goods Sold $ 278,000 $ 178,000
Depreciation Expense $ 65,000 $ 12,000
Selling and Administrative Expense $ 312,000 $ 58,000
Dividends Declared $ 90,000 $ 30,000
Accumulated Depreciation $ 630,000 $ 48,000
Accounts Payable $ 85,000 $ 40,000
Bonds Payable $ 150,000 $ 100,000
Common Stock $ 625,000 $ 250,000
Retained Earnings $ 498,000 $ 188,000
Sales $ 880,000 $ 355,000
Income from Scissor $ - $ 107,000 $ - $ -
TOTAL $ 2,975,000 $ 2,975,000 $ 981,000 $ 981,000

(a). Journal Entry during 2019


Investment in Scissor Co $ 370,000
Cash $ 370,000

Investment in Scissor Co $ 107,000


Income from Scissor Co. $ 107,000
Cash $ 30,000
Investment in Scissor Co. $ 30,000

INCOME STATEMENT CONSOLIDATION


ACCOUNT PAPER SCISSOR ELIMINATION
COMPANY COMPANY Dr Cr
Sales $ 880,000 $ 355,000
Cost of Goods Sold $ -278,000 $ -178,000
Depreciation Expense $ -65,000 $ -12,000
Selling and Administrative Expense $ -312,000 $ -58,000
Income from Scissor $ 107,000 $ - $ 107,000
Net Profit $ 332,000 $ 107,000 $ 107,000

RETAINED EARNINGS CONSOLIDATION


ACCOUNT Paper Scissor ELIMINATION
Company Company Dr Cr
Retained Earnings 1st Jan, 2019 $ 498,000 $ 188,000 $ 188,000
Net Profit $ 332,000 $ 107,000 $ 107,000
Dividends Declared $ -90,000 $ -30,000 0 $ 30,000
Retained Earnigs 31st Dec, 2019 $ 740,000 $ 265,000 $ 295,000 $ 30,000

STATEMENT OF FINANCIAL POSITION CONSOLIDATION


PAPER COMPANY SCISSOR COMPANY
ACCOUNT
Dr Cr Dr Cr
Cash $ 232,000 $ 116,000
Acconts Receivable $ 165,000 $ 97,000
Inventory $ 193,000 $ 115,000
Investment in Scissor Stock $ 515,000 $ -
Land $ 250,000 $ 125,000
Buildings and Equipment $ 875,000 $ 250,000
Less: Accumulated Depreciation $ - $ -630,000 $ - $ -48,000
Total Assets $ 2,230,000 $ -630,000 $ 703,000 $ -48,000

Accounts Payable $ 85,000 $ 40,000


Bonds Payable $ 150,000 $ 100,000
Common Stock $ 625,000 $ 250,000
Retained Earnings $ 740,000 $ 265,000
Total Liability and Equity $ 1,600,000 $ 655,000
i Keuangan Lanjutan I

rting Intercorporate Investments and Consolidation of Wholly Owned Subsidiaries


ntial)
CONSOLIDATION

$ 1,235,000
$ -456,000
$ -77,000
$ -370,000
$ -
$ 332,000 footing
$ 332,000 cross footing

CONSOLIDATION

$ 498,000
$ 332,000
$ -90,000
$ 740,000 footing
$ 740,000 cross footing

ELIMINATION
CONSOLIDATION
Dr Cr
$ 348,000
$ 262,000
$ 308,000
$ 515,000 $ -
$ 375,000
$ 12,000 $ 1,113,000
$ 12,000 $ - $ -666,000
$ 12,000 $ 527,000 $ 1,740,000 footing
$ 1,740,000 cross footing
$ 125,000
$ 250,000
$ 250,000 $ 625,000
$ 295,000 $ 30,000 $ 740,000
$ 545,000 $ 30,000 $ 1,740,000 footing
$ 1,740,000 cross footing

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