Ch6aBW - 1-Jan-07ParentSubAdjustmentsConsolidatedAt...

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Unformatted text preview: 1-Jan-07ParentSubAdjustmentsConsolidatedAt AcquisitionThe following holds true:Sales1. The sub was acquired on 1 Jan 07 and hade zero inventory at thatCGS2. All inventory acquired by the sub was acquired from the parent.Expenses3. The parent also sold to "outsiders."Intercompany Sales4. The sub only sold to "outsiders."Intercompany CGSEq. in Net Inc. of Sub.Net Income/LossRetained Earnings, beg4014Retained Earnings, beg.400140Net Income/LossDividends DeclaredRetained Earnings, end400140Inventory300Investment in Sub.200Other Assets100230Liabilities5030Common Stock15060Retained Earnings, end400140600600230230AMIS 624 David E. Wallin copyright 2009 All Rights ReservedChapter6a--131-Dec-07ParentSubAdjustmentsConsolidatedPartial EquitySales40085CGS28060Expenses100Intercompany Sales100Intercompany CGS80Eq. in Net Inc. of Sub.25Net Income/Loss6525Retained Earnings, beg.400140Net Income/Loss6525Dividends Declared3010Retained Earnings, end435155Inventory24040Investment in Sub.215Other Assets205215Liabilities7540Common Stock15060Retained Earnings, end435155660660255255AMIS 624 David E. Wallin copyright 2009 All Rights ReservedChapter6a--231-Dec-08ParentSubAdjustmentsConsolidatedPartial EquitySales600250CGS430180Expenses12030Intercompany Sales160Intercompany CGS118Eq. in Net Inc. of Sub.40Net Income/Loss13240Retained Earnings, beg.435155Net Income/Loss13240Dividends Declared3010Retained Earnings, end537185Inventory28020Investment in Sub.245Other Assets247255Liabilities8530Common Stock15060Retained Earnings, end537185772772275275AMIS 624 David E. Wallin copyright 2009 All Rights ReservedChapter6a--331-Dec-09ParentSubAdjustmentsConsolidatedPartial EquitySales600250CGS430120Expenses12030Intercompany Sales100Intercompany CGS70Eq. in Net Inc. of Sub.100Net Income/Loss180100Retained Earnings, beg.537185Net Income/Loss180100Dividends Declared3010Retained Earnings, end687275Inventory270Investment in Sub.335Other Assets317365Liabilities8530Common Stock15060Retained Earnings, end687275922922365365AMIS 624 David E. Wallin copyright 2009 All Rights ReservedChapter6a--431-Dec-07ParentSub...
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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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Ch6aBW - 1-Jan-07ParentSubAdjustmentsConsolidatedAt...

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