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Advanced Accounting 4

This document contains a consolidated income statement and balance sheet for Airbone and Dodo for the year ended December 31, 2021. It shows their individual financial statements, elimination and adjustment entries, and the final consolidated statements. The consolidated income statement shows total sales of $1,500,000 and net income of $565,500. The consolidated balance sheet lists total assets of $3,490,000, total liabilities of $3,589,500, and a net loss of $99,500.

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56 views2 pages

Advanced Accounting 4

This document contains a consolidated income statement and balance sheet for Airbone and Dodo for the year ended December 31, 2021. It shows their individual financial statements, elimination and adjustment entries, and the final consolidated statements. The consolidated income statement shows total sales of $1,500,000 and net income of $565,500. The consolidated balance sheet lists total assets of $3,490,000, total liabilities of $3,589,500, and a net loss of $99,500.

Uploaded by

Tax Training
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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a.

Siapkan kertas kerja konsolidasi untuk Airbone dan Dodo untuk tahun yang berakhir 31 Desember 2021
Airbone Dodo Adjustment & Elimination Journal Consolidated Statement
Debet Credit Debet Credit
Consolidated Loss Profit
Statement and Retained Earnings
for The Year ended 31 December
2021
Sales 850.000 650.000 1.500.000
Income from Dodo Company 60.000 139.500 79.500
Dividend Income 45.000 45.000
Gain on equipment 5.000 5.000
Cost of sales -200.000 -300.000 500.000
Depreciation Expenses -100.000 -50.000 150.000
Other Expenses -75.000 -175.000 250.000
Net Income 540.000 125.000 565.500
Add: Retained earnings 1 January 300.000 150.000 450.000
Minus: Dividend -100.000 -50.000 150.000
Retained earnings 31 740.000 225.000 865.500
December

Balance Sheet at 31 December


Cash 200.000 200.000 400.000
Account Receivable 100.000 175.000 275.000
Dividend Receivable 35.000 0 35.000
Inventory 275.000 100.000 375.000
Other current assets 225.000 250.000 475.000
Land 160.000 300.000 460.000
Building –net 200.000 175.000 375.000
Equipment-net 700.000 400.000 5.000 1.095.000
Investment on Subsidiary 320.000 454.500 134.500
Account Payable 400.000 195.000 595.000
Dividend Payable 250.000 150.000 400.000
Other liabilities 100.000 200.000 300.000
Common stock 1.250.000 900.000 300.000 1.850.000
Retained Earnings 215.000 155.000 100.000 270.000

Non controlling Interest 40.000


Total 3.490.000
Net/loss Operating Income 99.500
2.215.000 1.600.000 544.500 544.500 3.589.500 3.589.500

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