cash 30000 24000 accounts receivable 35000 9000 inventories 23000 16000

Cash 30000 24000 accounts receivable 35000 9000

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cash $30,000 $24,000 accounts receivable $35,000 $9,000 inventories $23,000 $16,000 equipment $240,000 $60,000 accumulated depreciation ($40,000) ($10,000) patents $12,000 total assets $288,000 $111,000 liabilities and equities accounts payable $6,000 $6,000 bonds payable $80,000 capital stock ($10 par) $120,000 $60,000 APIC $20,000 $10,000 retained earnings $62,000 $35,000 total liabilities and equities $288,000 $111,000 During 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 Pearl and 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 the inventory 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 equity Pearl Co. Sapphire Co. sales $800,000 $400,000 COGS $580,000 $250,000 gross margin $220,000 $150,000 depreciation & amortization $25,000 $14,000 other operating expense $115,000 $98,000 net income from operations $80,000 $38,000 income from acquiree $34,200 net income $114,200 $38,000 balance sheet of Pearl and Sapphire Co.
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Financial Focus Review Golden Copyright 2014 - 260 - Pearl Co. Sapphire Co. cash $48,500 $21,000 accounts receivable (net) $42,000 $8,000 inventories $34,000 $14,000 equipment $290,000 $107,000 accumulated depreciation ($50,000) ($17,000) investment in stocks of Sapphire Co. $170,700 patents $12,000 total assets $535,200 $145,000 accounts payable $15,000 $17,000 bonds payable $80,000 capital stock $135,000 $60,000 APIC $155,000 $10,000 retained earnings $150,200 $58,000 total liabilities & equity $535,200 $145,000 statement of retained earnings of Pearl and Sapphire Co. Pearl Co. Sapphire Co. 1/1/Y2 retained earnings $62,000 $35,000 add net income $114,200 $38,000 deduct dividend $26,000 $15,000 balance 12/31, Year 2 $150,200 $58,000 Based on information provided above, please 1. Prepare consolidated balance sheet at acquisition date. 2. Prepare elimination journal entries for inter-company transactions occurred during Year 2 3. 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 $150,000 Cr: Common stock $15,000 APIC $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。
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Financial Focus Review Golden 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, noncontrolling interest 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 of net 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 goodwill Dr: Goodwill $55,500 Cr: Difference $55,500 (2). 抵消 investment 科目 Dr: Difference $55,500 Common stock $60,000 APIC $10,000 Retained earnings $35,000 Cr: investment $150,000 Noncontrolling 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 Company Balance sheet 1/1/Y2 assets liabilities cash $54,000 accounts payable $12,000 accounts receivable $44,000 bonds payable $80,000 inventory $39,000
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