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    Devia Febrina 43221110106 - Kuis 07 AKL 2

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    nara kim
    The document contains comparative income statements of Son Corporation for 2016-2018 and additional information. It requires preparing schedules of Pop Corporation's income from Son, Pop's net income, and consolidated net income for Pop Corporation and subsidiary for 2016-2018, accounting for non-controlling interest.

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    Devia Febrina 43221110106 - Kuis 07 AKL 2

    Uploaded by

    nara kim
    326 views3 pages
    The document contains comparative income statements of Son Corporation for 2016-2018 and additional information. It requires preparing schedules of Pop Corporation's income from Son, Pop's net income, and consolidated net income for Pop Corporation and subsidiary for 2016-2018, accounting for non-controlling interest.

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    © © All Rights Reserved

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    The document contains comparative income statements of Son Corporation for 2016-2018 and additional information. It requires preparing schedules of Pop Corporation's income from Son, Pop's net income, and consolidated net income for Pop Corporation and subsidiary for 2016-2018, accounting for non-controlling interest.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    326 views3 pages

    Devia Febrina 43221110106 - Kuis 07 AKL 2

    Uploaded by

    nara kim
    The document contains comparative income statements of Son Corporation for 2016-2018 and additional information. It requires preparing schedules of Pop Corporation's income from Son, Pop's net income, and consolidated net income for Pop Corporation and subsidiary for 2016-2018, accounting for non-controlling interest.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Soal P 5-4

    Comparative income statements of Son Corporation for the calendar years 2016, 2017, and
    2018 are as follows (in thousands):
    2016 2017 2018
    Sales $48,000 $51,000 $57,000
    Cost of sales 25,200 26,400 30,000
    Gross profit 22,800 24,600 27,000
    Operating expenses 18,000 19,200 22,800
    Net income $ 4,800 $ 5,400 $ 4,200

    Additional Information
    1. Son was a 75 percent–owned subsidiary of Pop Corporation throughout the 2016–2018
    period. Pop’s separate income (excludes income from Son) was $21,600,000,
    $20,400,000, and $24,000,000 in 2016, 2017, and 2018, respectively. Pop acquired its
    interest in Son at its underlying book value, which was equal to fair value on July 1,
    2015.
    2. Pop sold inventory items to Son during 2016 at a gross profit to Pop of $2,400,000. Half
    the merchandise remained in Son’s inventory at December 31, 2016. Total sales by Pop
    to Son in 2016 were $6,000,000. The remaining merchandise was sold by Son in 2017.
    3. Pop’s inventory at December 31, 2017, included items acquired from Son on which Son
    made a profit of $1,200,000. Total sales by Son to Pop during 2017 were $4,800,000.
    4. There were no unrealized profits in the December 31, 2018, inventories of either
    company.
    5. Pop uses the equity method of accounting for its investment in Son.

    Required
    1) Prepare a schedule showing Pop’s income from Son for the years 2016, 2017, and 2018.
    2) Compute Pop’s net income for the years 2016, 2017, and 2018.
    3) Prepare a schedule of consolidated net income for Pop Corporation and Subsidiary for
    the years 2016, 2017, and 2018, beginning with the separate incomes of the two affiliates
    and including noncontrolling interest computations
    Jawab:
    1) Schedule Penghasilan Pop Corp dari Son Corp untuk tahun 2016, 2017 dan 2018
    Schedule of Net Income
    2016 2017 2018
    Net Income of Son Corp 4.800.000 5.400.000 4.200.000
    Profit Share 75% 75% 75%
    Net Income of Pop Corp 3.600.000 4.050.000 3.150.000
    Unrealized Profit in Dec 31, 2016
    (1.200.000) 1.200.000
    Inventory (Downstream)
    (2.400.000x50%)
    Unrealized Profit in Dec 31, 2017
    (900.000) 900.000
    Inventory (Upstream)
    (1.200.000x75%)
    Pop's income From Son 2.400.000 4.350.000 4.050.000

    2) Pendapatan bersih komputasi Pop Corp pada tahun 2016, 2017, dan 2018
    Net Income for Pop's Corp
    2016 2017 2018
    Net Income for Pop's Corp 21.600.000 20.400.000 24.000.000
    Net Income for Son's Corp 2.400.000 4.350.000 4.050.000
    Consolidated Net Income 24.000.000 24.750.000 28.050.000

    3) Schedule pendapatan bersih konsolidasi untuk Pop Corp dan subsidiary untuk tahun
    2016, 2017, dan 2018 dimulai dengan pendapatan terpisah dari kedua afiliasi dan
    termasuk bunga yang tidak membingungkan
    Schedule of Consolidate Net Income
    2016 2017 2018
    Net Income of Son Corp 4.800.000 5.400.000 4.200.000
    Net Income of Pop Corp 21.600.000 20.400.000 24.000.000
    Income Pop and Son Combined 26.400.000 25.800.000 28.200.000
    Unrealized Profit in Dec 31, 2016 (1.200.000) 1.200.000
    Unrealized Profit in Dec 31, 2017 (1.200.000) 1.200.000
    Total Consolidate Income 25.200.000 25.800.000 29.400.000
    Less: Non-controlling Interest
    2016 (25% x 4.800.000) (1.200.000)
    2017 (25% x (5.400.000 - 1.200.000)) (1.050.000)
    2018 (25% x (4.200.000 + 1.200.000)) (1.350.000)
    Controlling Share of Net Income 24.000.000 24.750.000 28.050.000

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