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Tugas AKL1

The document contains journal entries and a consolidation worksheet for Peanut Co and its subsidiary Snoopy Co. The journal entries record Peanut Co's initial investment in Snoopy Co and subsequent income earned from the investment. The consolidation worksheet eliminates intercompany transactions and combines the financial statements of the two companies to show the consolidated income statement, retained earnings statement, and balance sheet of the parent and subsidiary as a whole.

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Yandra Febriyanti
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1K views4 pages

Tugas AKL1

The document contains journal entries and a consolidation worksheet for Peanut Co and its subsidiary Snoopy Co. The journal entries record Peanut Co's initial investment in Snoopy Co and subsequent income earned from the investment. The consolidation worksheet eliminates intercompany transactions and combines the financial statements of the two companies to show the consolidated income statement, retained earnings statement, and balance sheet of the parent and subsidiary as a whole.

Uploaded by

Yandra Febriyanti
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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P2-23

a. Prepare journal entries peanut books for the acquisition to Snoopy.co

Equity method on peanut Co’s Books

Investment in Snoopy Co 300,000


Cash 300,000

Jurnal pencatatan investasi awal pada snoopy

Investment in Snoopy Co 75,000


Income from snoopy 75,000

Jurnal pencatatan pendapatan 100% shares snoopys.co

Cash 20,000
Investment on snoopy 20,000
b. Prepare a consolidation worksheet for 20x8 in good firm

Consolidation Worksheet

Peanut Snoopy Elimination Consolidated


Co Co
DR CR
Income statement
sales 800,000 250,000 1,050,000
Less:COGS (200,000) (125,000) (325,000)
Less:Depreciation expense (50,000) (10,000) (60,000)
Less:other expense (225,000) (40,000) (265,000)
Income from snoopy 75,000 75,000 0
Net income 400,000 75,000 75,000 400,000

Statement Retained Earning


Beginning Balance 225,000 100,000 100,000 225,000
Net income 400,000 75,000 75,000 400,000
Less: dividends declared (100,000) (20,000) 20,000 (100,000)
Ending Balance 525,000 155,000 175,000 20,000 525,000

Balance Sheet
Cash 130,000 80,000 210,000
Accounts receivable 165,000 65,000 230,000
Inventory 200,000 75,000 275,000
Investmen in Snoopy co 355,000 355,000 0
Land 200,000 100,000 300,000
Buildings&Equipment 700,000 200,000 10,000 890,000
Less:accumulated (450,000) (20,000) 10,000 (460,000)
depreciation
Total Assets 1,300,000 500,000 10,000 365,000 1,445,000

Accounts Payable 75,000 60,000 135,000


Bond Payable 200,000 85,000 285,000
Common Stock 500,000 200,000 200,000 500,000
Retained Earnings 525,000 155,000 175,000 20,000 525,000
Total Liabilities & Equity 1,300,000 500,000 375,000 20,000 1,445,000
P2-24

a. Prepare journal entries peanut books for the acquisition to Snoopy.co

Equity method on peanut Co’s Books

Investment in Snoopy Co 80,000


Cash 80,000

Jurnal pencatatan pendapatan 100% shares snoopys.co

Cash 30,000
Investment on snoopy 30,000
b. Consolidation worksheet

Peanut.co Snoopy.co Elimination Consolidated

Income statement
sales 850,000 300,000 1,150,000
Less:COGS (270,000) (150,000) (420,000)
Less:Depreciation expense (50,000) (10,000) (60,000)
Less:other expense (230,000) (60,000) (290,000)
Income from snoopy 80,000 80,000 0
Net income 380,000 80,000 80,000 380,000

Statement Retained Earning


Beginning Balance 525,000 155,000 155,000 525,000
Net income 380,000 80,000 80,000 380,000
Less: dividends declared (225,000) (30,000) 30,000 (225,000)
Ending Balance 680,000 205,000 235,000 30,000 68,000

Balance Sheet
Cash 230,000 75,000 305,000
Accounts receivable 190,000 80,000 270,000
Inventory 180,000 100,000 280,000
Investmen in Snoopy co 355,000 355,000 0
Land 200,000 100,000 300,000
Buildings&Equipment 700,000 200,000 10,000 890,000
Less:accumulated (500,000) (30,000) 10,000 (520,000)
depreciation
Total Assets 1,405,000 525,000 10,000 415,000 1,525,000

Accounts Payable 75,000 35,000 110,000


Bond Payable 150,000 85,000 235,000
Common Stock 500,000 200,000 200,000 500,000
Retained Earnings 680,000 205,000 235,000 30,000 680,000
Total Liabilities & Equity 1,405,000 525,000 435,000 30,000 1,525,000

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