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Multiple Choices - Computational

Autor:   •  February 10, 2018  •  2,846 Words (12 Pages)  •  638 Views

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CI from own operation – Pat P 500,000 P 550,000

Unrealized profit in ending inventory:

2012 (P20,000 x .40) (8,000)

2013 (P30,000 x .50) (15,000)

Realized profit in beginning inventory 8,000[pic 2]

Realized CI 492,000 543,000

Sun CI 200,000 225,000

Consolidated CI P 692,000 P 768,000

17-8: a

CI from own operation – Pip P 400,000

Adjusted CI from own operation - Sol

CI P 250,000

Realized profit in beginning inventory-

Upstream (P40,000 x 40%) 16,000

Unrealized profit in ending inventory-

Upstream (P70,000 x 30%) ( 21,000) 245,000

Consolidated CI – 2013 P 645,000

17-9: a

CI from own operations – Popo P 500,000

Unrealized profit in ending inventory – Downstream ( 15,000)

Realized CI from own operation – Popo P 485,000

Adjusted CI from own operations - Sotto

CI P 360,000

Realized profit in beginning inventory-

Upstream 10,000 370,000

Consolidated CI P 855,000

Attributable to NCI (P370,000 x 5%) 18,500

Attributable to parent P 836,500

17-10: d

CI – Sand Company P200,000

Realized profit in beg. Inventory (P120,000 x .20) 24,000

Unrealized profit in ending inventory (P360,000 x .20) (72,000)

Amortization of allocated excess P1.000,000 / 5) (200,000)

Adjusted net loss – Sand Company P(48,000)

NCI (P48,000 x 40%) P(19,200)

17-11: d

Gross profit rate – Short (P110,000 / P200,000) 55%

Inventories

Inventory from outsiders – Power P 5,000

Inventory from outsiders – Short 25,000

Power’s inventory acquired from Short – at cost:

[P5,000 – (P5,000 x 55%)} 2,250

Consolidated ending inventories P 32,250

Investment income

Power’s share of Short’s CI (P50,000 x 75%) P 37,500

Unrealized profit in ending inventory – upstream

(P5,000 x 55%) x 75% ( 2,063)

Realized profit in beginning inventory – upstream

(P10,000 x 55%) x 75% 4,125

Investment income, Dec. 31, 2013 P 39,562

Investment in Short Company

Acquisition cost (P80,000 x 80%) P 60,000

Unrealized profit in ending inventory ( 2,063)

Realized profit in beginning inventory 4,125

Investment in Short Company, Dec. 31, 2013 P 62,062

NCI in Short company’s CI

Short’s CI from own operations P 50,000

Realized profit in beginning inventory (P10,000 x 55%) 5,500

Unrealized profit in ending inventory (P5,000 x 55%) ( 2,750)

Adjusted CI from own operations P 52,750

NCI proportionate share 25%

NCI in Short’s CI P 13,187.50

17-12: b

Gross profit rate of Sit (P200,000 / P500,000) 40%

CI from own operations – Pit P 200,000

Adjusted CI of Sit:

CI P 75,000

Realized profit in beginning inventory-

Upstream (P40,000 x 40%) 16,000

Unrealized profit in ending inventory-

Upstream (P25,000 x 40%) ( 10,000) 81,000

Consolidated CI P 281,000

Attributable to NCI (P81,000 x 10%) ( 8,100)

Attributable to parent P 272,900

17-13: b

Gross profit of Sir (P120,000 / P400,000) 30%

Consolidated cost of sales

Cost of sales – Pig P 600,000

Cost of sales – Sir 280,000

Eliminations:

Realized profit in beginning inventory (P70,000 x 30%) ( 21,000)

Unrealized profit in ending inventory (P60,000 x 30%) 18,000

Intercompany purchases (200,000)

Consolidated cost of sales P 677,000

Consolidated CI

CI from own operations – Pig P 200,000

Sir’s

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