Multiple Choices - Computational
Autor: Jannisthomas • 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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