88%(17)15 out of 17 people found this document helpful
This preview shows page 295 - 298 out of 380 pages.
cash$30,000$24,000accounts receivable$35,000$9,000inventories$23,000$16,000equipment$240,000$60,000accumulated depreciation($40,000)($10,000)patents$12,000total assets$288,000$111,000liabilities and equitiesaccounts payable$6,000$6,000bonds payable$80,000capital stock ($10 par)$120,000$60,000APIC$20,000$10,000retained earnings$62,000$35,000total liabilities andequities$288,000$111,000During year 2, Sapphire has $38,000 of net income and pays a dividend of$15,000. In addition, there are two inter-company transactions between Pearland Sapphire.1. Pearl sold $30,000 of goods to Sapphire. Pearl’s cost of goods sold was$18,000. All of the goods remain in Sapphire’s inventory.2. At December 31, year 2, Sapphire owes Pearl $5,000 for a portion of theinventory purchased in 2.The following is the separate financial statement of Pearl Co. and Sapphire Co.income statement of Pearl Corp. and Sapphire Corp.acquisition method - 90% acquisition subsequent, partial equityPearl Co.Sapphire Co.sales$800,000$400,000COGS$580,000$250,000gross margin$220,000$150,000depreciation & amortization$25,000$14,000other operating expense$115,000$98,000net income from operations$80,000$38,000income from acquiree$34,200net income$114,200$38,000balance sheet of Pearl and Sapphire Co.
Financial Focus ReviewGolden Copyright 2014- 260 -Pearl Co.Sapphire Co.cash$48,500$21,000accounts receivable (net)$42,000$8,000inventories$34,000$14,000equipment$290,000$107,000accumulated depreciation($50,000)($17,000)investment in stocks ofSapphire Co.$170,700patents$12,000total assets$535,200$145,000accounts payable$15,000$17,000bonds payable$80,000capital stock$135,000$60,000APIC$155,000$10,000retained earnings$150,200$58,000total liabilities & equity$535,200$145,000statement of retained earnings of Pearl and Sapphire Co.Pearl Co.Sapphire Co.1/1/Y2 retained earnings$62,000$35,000add net income$114,200$38,000deduct dividend$26,000$15,000balance 12/31, Year 2$150,200$58,000Based on information provided above, please1. Prepare consolidated balance sheet at acquisition date.2. Prepare elimination journal entries for inter-company transactions occurredduring Year 23. Prepare other adjusting entries for consolidated financial statement of Year 2.4. Prepare working sheet for consolidation financial statement of Year 2.例题解析：1.首先需要编制合并日财务报表。在编制合并财务报表之前，需要首先确认investment。在合并日，母公司发行了15,000股股票获得了子公司90%的权益，并且在合并日母公司的股份的公允价值是$10，所以在合并日母公司获得控制权而支付的对价的公允价值是$10*15,000=$150,000.所以，确认investment的分录是：Dr:Investment$150,000Cr:Common stock$15,000APIC$135,000母公司例题中已经指出，合并日子公司可辨认净资产的公允价值等于账面价值，故在合并日不需要编制任何的公允价值调整分录。可辨认净资产的公允价值=equity账面价值=$105,000.唯一需要做的就是确认goodwill的金额。
Financial Focus ReviewGolden Copyright 2014- 261 -存在少数股东权益的情况下，goodwill的计算和100% owned的情况下类似，但是需要额外计算合并日noncontrolling interest的公允价值。少数股东权益的公允价值=少数股东在子公司中所占权益份额*子公司权益的公允价值。如在这道例题中，noncontrollinginterest的公允价值=子公司股票的市值*noncontrolling interest的股份=$17.5*600=$10,500.由于Pearl Co.并非通过step acquisition获得子公司的权益，故不存在fair value of previously held shares.Goodwill=acquisition cost+ fair value of noncontrolling interest – fair value ofnet identifiable assets = $150,000+$10,500-$105,000=$55,500.所以，合并日的调整分录如下：(1).确认goodwillDr:Goodwill$55,500Cr:Difference$55,500(2).抵消investment科目Dr:Difference$55,500Common stock$60,000APIC$10,000Retained earnings$35,000Cr:investment$150,000Noncontrolling interest$10,500编制完调整分录之后，可以得到合并日的财务报表-资产负债表，合并日资产负债表如下：Sapphire CompanyBalance sheet 1/1/Y2assetsliabilitiescash$54,000accounts payable$12,000accounts receivable$44,000bonds payable$80,000inventory$39,000