AMIS624X1F - LastName |_|_|_|_|_|_|_|_|_|_|_|_| FirstName

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Last Name | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | First Name | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | Exam I Spring 2009 Instructions: 1. Read each question carefully and answer fully.   Unless otherwise  specified,   subsidiaries   do   not   use   the   push-down   method   of  accounting.  All consolidations are handled as purchases (not pooling)  unless indicated.  All firms use a calendar year.  All firms acquired  after 31 December 2008 unless otherwise noted. 2. Problems not supported by relevant and readable computations are  subject to point loss. 3. Budget your time carefully.  It is generally better to finish half of each  problem than to complete all of half the problems.   Students who  continue to work on exams after instructed to stop will receive a zero  on this exam. 4. It is the student's responsibility to verify that all the listed problems  and   pages   are   contained   is   this   booklet.     Unanswered   questions  receive zero points regardless of reason. Problem Pages Approximate Points Approximate Time I 2-4 40 26 – 31 minutes II 5-9 80 50 – 59 minutes
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Total 120 76 - 90 minutes
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Page 3 of 10 P ROBLEM  I Below is a 20x1 worksheet for Parent and a 100%-owned subsidiary Sub that was  created a number of years ago.   Parent has used the equity method in all years.   The  following consists of four parts, unrelated except as specified. Part A.  R EQUIRED :  Complete the worksheet, preparing the consolidated statements. 12/31/20x1 Parent Sub Adjustments Consolidated Sales 500 231 Cost of Sales 300 167 Expenses 104 14 Equity in Net Inc. Sub 50 Net Income/Loss 146 50 Retained Earnings, beg. 398 54 Net Income/Loss 146 50 Dividends Declared 47 12 Retained Earnings, end 497 92 Cash 154 42 A/R 56 40 Inventory 120 56 250 112 Accum. Depreciation
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This note was uploaded on 08/06/2011 for the course AMIS 624 taught by Professor Wallin during the Summer '11 term at Ohio State.

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AMIS624X1F - LastName |_|_|_|_|_|_|_|_|_|_|_|_| FirstName

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