AMIS624X1G - LastName |_|_|_|_|_|_|_|_|_|_|_|_| FirstName

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Last Name | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | First Name | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | _ | Exam I Summer 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 400 317 Cost of Sales 190 200 Expenses 20 135 Equity in Net Inc. Sub 18 Net Income/Loss 172 18 Retained Earnings, beg. 212 120 Net Income/Loss 172 18 Dividends Declared 44 20 Retained Earnings, end 340 82 Cash 30 30 A/R 77 50 Inventory 120 56 250 200 Accum. Depreciation
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AMIS624X1G - LastName |_|_|_|_|_|_|_|_|_|_|_|_| FirstName

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