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Pert 1 - AKL - CH 3 - 2019-2020

1. The document provides financial information for Mark AG as of March 31, 2014 including assets, liabilities, and equity accounts. It asks to prepare a schedule allocating the excess of investment fair value over book value for Tobias AG's acquisition of 90% interest in Mark AG. 2. The document provides financial information for Pop Corporation and its 70% owned subsidiary Son Corporation as of January 1, 2016 and December 31, 2016. It asks to prepare consolidated balance sheet workpapers for Pop Corporation and Subsidiary as of December 31, 2016.

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2K views2 pages

Pert 1 - AKL - CH 3 - 2019-2020

1. The document provides financial information for Mark AG as of March 31, 2014 including assets, liabilities, and equity accounts. It asks to prepare a schedule allocating the excess of investment fair value over book value for Tobias AG's acquisition of 90% interest in Mark AG. 2. The document provides financial information for Pop Corporation and its 70% owned subsidiary Son Corporation as of January 1, 2016 and December 31, 2016. It asks to prepare consolidated balance sheet workpapers for Pop Corporation and Subsidiary as of December 31, 2016.

Uploaded by

Nova Yuliani
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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UNIVERSITAS INTERNASIONAL BATAM

Soal untuk Lab. (Pertemuan ke-1)


TAHUN AKADEMIK 2019/2020
Mata Kuliah : LAB. AKUNTANSI KEUANGAN LANJUTAN
Fakultas : Ekonomi
Program Studi / semester : Akuntansi / 3

1. On March 31, 2014, Tobias AG purchased 90 percent of interest in Mark AG for $8,100,000 cash.
Mark AG had unrecorded patents on this date for $100,000. The balance sheet summary of Mark
AG on March 31, 2014, was as follows (in thousands):
Book Value Fair Value

Cash $1,000 $1,000


Inventories 1,600 2,000
Land 3,000 4,000
Buildings—net 2,800 2,500
Equipment—net 3,900 4,000
Current liabilities 900 900
Notes payable 1,800 2,000
Bonds payable 2,400 2,000
Common stock, $10 par 2,000
Retained earnings 5,200

Question
Prepare a schedule to allocate the excess of investment fair value over book value.

2. Pop Corporation acquired a 70 percent interest in Son Corporation on January 1, 2016, for $2,800,000,
when Son’s stockholders’ equity consisted of $2,000,000 capital stock and $1,200,000 retained
earnings. On this date, the book value of Son’s assets and liabilities was equal to the fair value, except
for inventories that were undervalued by $80,000 and sold in 2016, and plant assets that were
undervalued by $320,000 and had a remaining useful life of eight years from January 1. Son’s net
income and dividends for 2016 were $280,000 and $40,000, respectively.
Separate-company balance sheet information for Pop and Son Corporations at December 31,
2016, follows (in thousands):

Pop Son

Cash $ 240 $ 80
Accounts receivable—customers 1,760 800
Accounts receivable from Pop — 40
Dividends receivable 28 —
Inventories 2,000 1,280
Land 400 600
Plant assets—net 2,800 1,400
Investment in Son 2,884 —
$10,112 $4,200

Accounts payable—suppliers $ 1,200 $ 320


Accounts payable to Son 40 —
Dividends payable 160 40
Long-term debt 2,400 400
Capital stock 4,000 2,000
Retained earnings 2,312 1,440
$10,112 $4,200
Question
Prepare consolidated balance sheet workpapers for Pop Corporation and Subsidiary at December
31, 2016.

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