Data
Current Year
Year of Acquisition
% of subsidiary's stock acquired(Percentage)
Actuisition Price, in dollars
FV of the NCI at the date of Acquisition, in dollars
Subsidiary's BVat the date of Actuisition, in dollars
Revaluations of the Subsidiary's Identifiable net Assets as of the date of Acquisition, in dollars
Goodwill
Intercompany Transactions
Trial Balance(EOY)
Current Assets
Plant and Equpment, net
Identifiable Intangible Asssets
Investment in Subsidiary
Liabilities
Capital Stock
Retained Earning, beginning of year
Treasury Stock
Accumulated other Comprehensive Income
Dividends
Sales Revenue
Cost of Goods Sold
Operating Expenses
Totals
Data
Current Year
Year of Acquisition
% of subsidiary's stock acquired(Percentage)
Actuisition Price, in dollars
FV of the NCI at the date of Acquisition, in dollars
Subsidiary's BVat the date of Actuisition, in dollars
Revaluations of the Subsidiary's Identifiable net Assets as of the date of Acquisition, in dollars
Inventory
Plant&Equipment
Estimated remaining life as of the date of acquisition, in years
Unrecorded Identifiable Intangibles
Estimated remaining life as of the date of acquisition, in years
Goodwill
Cumulative Goodwill Impairment Losses as of the Beginning of the Current Year
Goodwill Impairment Loss for the Current year
Intercompany Transactions
Total Current Year Upstream and Downstream Merchandise Sales, at Retail, in dollars
Total Upstream Beginning Inventory on the Parent's Books, in dollars
Total Upstream Ending Inventory on the Parent's Books, in dollars
Total Downstream Beginning Inventory on the Subsidiary's Books, in dollars
Total Downstream Ending Inventory on the Subsidiary's Books, in dollars
Downstream Markup on Cost(Percentage)
Upstream Markup on Cost(Percentage)
Price(in dollars) Charged by the Parent to the Subsidiary for the Current Year's Conculting Services.
Amount(in dollars) Owed by the Parent to the Subsidiary for Merchandise Purchases, as of the EOY
Amount(in dollars) Owed by the Subsidiary to the Parent for Merchandise Purchases and Consulting Services, as of the EOY
Trial Balance(EOY)
Current Assets
Plant and Equpment, net
Identifiable Intangible Asssets
Investment in Subsidiary
Liabilities
Capital Stock
Retained Earning, beginning of year
Treasury Stock
Accumulated other Comprehensive Income
Dividends
Sales Revenue
Cost of Goods Sold
Operating Expenses
Totals
2010 Years after the acquisition 5
2006
75%
$ 120,000,000
$ 35,000,000
$ 74,000,000
$ 1,000,000
$ 1,000,000
10
$ 25,000,000
10
$ 2,000,000
$ 1,000,000
$ 60,000
$ 10,400
$ 13,000
$ 20,800
$ 26,000
25%
30%
$ 1,000
$ 2,000
$ 4,000
Parent Subsidiary
$ 35,000,000 $ 20,500,000
$ 256,150,000 $ 192,000,000
$ 100,000,000 $ 10,000,000
$ 123,680,151
$ 380,000,000 $ 125,000,000
$ 80,000,000 $ 54,000,000
$ 51,830,151 $ 38,000,000
$ 5,000,000 $ 1,000,000
$ 2,000,000 $ 2,000,000
$ 1,000,000 $ 500,000
$ 400,000,000 $ 140,000,000
$ 250,000,000 $ 65,000,000
$ 143,000,000 $ 70,000,000
$0 $0
Equity in Net Income and Noncontrolling Interest in Net Income Sheet
Total Equity in Net Income
Subsidiary's New Income for the Current Year $5,000,000 $3,750,000
Adjustment for Revaluation Write-offs
Inventory $0 $0
Plant&Equipment ($100,000) ($75,000)
Unrecorded Identifiable Intangibles ($2,500,000) ($1,875,000)
Goodwill Impairment ($1,000,000) ($819,444)
Totals $1,400,000 $980,556
Adjustments for Intercompany Transactions
Upstream Confirmed in Beginning $2,400 $1,800
Downstream Confirmed in Beginning $4,160 $4,160
Upstream Unconfirmed in Ending ($3,000) ($2,250)
Downstream Unconfirmed in Ending ($5,200) ($5,200)
Totals ($1,640) ($1,490)
Totals $1,398,360 $979,066
ome Sheet
NC Interest in Net Income
$1,250,000
$0
($25,000)
($625,000)
($180,556)
$419,444
$600
($750)
($150)
$419,294
Goodwill Calcuation
Acquisition Cost
FV of NCI
Total FV
BV of Subsidiary
Revaluations of the Subsidiary's Identifiable net Assets as of the date of Acquisition, in dollars
Inventory
Plant&Equipment
Unrecorded Identifiable Intangibles
Total Goodwill
Amount and Percentage of Goodwill Allocated to the Parent
Acquisition Cost
Controlling Interest in the FV of Sub
Parent's Goodwill
Goodwill %
Amount and Percentage of Goodwill allocated to the Noncontrolling Interest
Total Goodwill
Parent's Goodwill
NCI's Goodwill
Goodwill %
$ 120,000,000
$ 35,000,000
$ 155,000,000
$ 74,000,000
$ 1,000,000
$ 1,000,000
$ 25,000,000
$ 54,000,000
t
$ 120,000,000
$ 75,750,000
$ 44,250,000
82%
$ 54,000,000
$ 44,250,000
$ 9,750,000
18%
Consolidation Working Paper, December, 31
Accounts Taken From books Eliminations
Parent Subsidiary Dr
Current assets $35,000,000 $20,500,000 R $0
Plant and equipment, net $256,150,000 $192,000,000 R $600,000
Identifiable intangible assets $100,000,000 $10,000,000 R $15,000,000
Investment in subsidiary $124,659,217 $0 I $4,160
Goodwill R $52,000,000
Liabilities ($380,000,000) ($125,000,000) I $2,000
I $4,000
Capital stock ($80,000,000) ($54,000,000) E $54,000,000
Retained earnings, beginning of year ($51,830,151) ($38,000,000) E $37,997,600
I $2,400
Treasury stock $5,000,000 $1,000,000
Accumulated other comprehensive income ($2,000,000) ($2,000,000) E $2,000,000
NCI's Interest
Dividends $1,000,000 $500,000
Sales revenue ($400,000,000) ($140,000,000) I $60,000
I $1,000
Equity in net income of subsidiary ($979,066) C $979,066
Cost of goods sold $250,000,000 $65,000,000 I $3,000
I $5,200
Operating expenses $143,000,000 $70,000,000
Inventory O $0
Plant&Equipment O $100,000
Unrecorded Identifiable Intangibles O $2,500,000
Goodwill Impairment Loss O $1,000,000
NCI's Interest in NI of Sub N $419,294
Total $0 $0 $166,677,720
, 31
Eliminations Consolidated Balances
Cr Dr (Cr)
$0 O
$3,000 I
$5,200 I C
$2,000 I I
$4,000 I $55,485,800 E
$100,000 O $448,650,000 R
$2,500,000 O $122,500,000 O
$604,066 C N
$69,748,200 E
$54,311,111 R ($0)
$1,000,000 O $51,000,000
($504,994,000)
($80,000,000)
($51,830,151)
$1,000,000 E $5,000,000
($2,000,000)
$23,249,400 E
$13,288,889 R
$294,294 N ($36,832,583)
$375,000 C
$125,000 N $1,000,000
($539,939,000)
$0
$60,000 I
$2,400 I
$4,160 I $314,941,640
$1,000 I
$215,599,000
$1,000,000
$419,294
$166,677,720 ($0)
Name of Company
Consolidated Statement of Income and Retained Earnings
For the Year Ended Date
Sales and other Revenue
Less: Cost of Goods Sold
Goowill impairment loss
Other Operating Expenses
Consolidated net income
Less: Noncontrolling interest in net income
Net income atrributable to parent
Plus: Retained Earning, Parent, Jan/1
Less: Dividend
Retained Earning, Parent, 12/31
Name of Company
Consolidated Balance Sheet
Date
Asset
Current Asset(Including Inventory) $ 55,485,800
Plant&Equipment $ 448,650,000
Identifiable Intangibles $ 122,500,000
Goodwill $ 51,000,000
Total Assets $ 677,635,800
Name of Company
Statement of Income and Retained Earnings
For the Year Ended Date
$ 539,939,000
$ (314,941,640)
$ (1,000,000)
$ (215,599,000)
$ 8,398,360
$ (419,294)
$ 7,979,066
$ 51,830,151
$ (1,000,000)
$ 58,809,217
Name of Company
Consolidated Balance Sheet
Date
Liablities and Stockholder's Equity
Current Liablity $ 504,994,000
Total Liablity $ 504,994,000
Stockholder's Equity
Parents stockholder's equity
Capital stock $ 80,000,000
Retained earning $ 58,809,217
Treasury Stock $ (5,000,000)
Accumulated other comprehensive income $ 2,000,000
Total parent's stockholder's euqity $ 135,809,217
Noncontrolling interest $ 36,832,583
Total stockholder's equity $ 172,641,800
Total liablities and stockholder's equity $ 677,635,800