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Consolidated Financial Overview 2013

The document provides financial information for retained earnings, investment accounts, and stockholders' equity for various periods. It discusses the elimination of intercompany receivables and payables in consolidated financial statements. It also includes calculations of non-controlling interests for subsidiaries acquired at fair value and the allocation of excess costs to identifiable assets.

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Wawex Davis
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6 views2 pages

Consolidated Financial Overview 2013

The document provides financial information for retained earnings, investment accounts, and stockholders' equity for various periods. It discusses the elimination of intercompany receivables and payables in consolidated financial statements. It also includes calculations of non-controlling interests for subsidiaries acquired at fair value and the allocation of excess costs to identifiable assets.

Uploaded by

Wawex Davis
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

19.

Retained earnings, 12/31/013 - Sotto P 51,000

Dividends paid 5,000

Retained earnings, I2/31/013 before dividends P 56,000

Retained earnings, January 1, 2013 36,000

Net income --- Sotto P 20,000

Multiply by x40%

Investment income P 80000

20.

Investment account balance, 12/31/013 P 131,000


Dividends received (P5,000 x 40%) 2,000
Investment income (8,000)
price paid, January 1, 2013 P 125 000
21. None are reported as intercompany receivables in the consolidated statement of financial

position, because all of the intercompany receivables, payables and advances are eliminated.

22.

Stockholders' equity, 1/1/013 —Phil P16,000,000


Increase in earnings (P2,500,000 P900,000) 1,600,000
Consolidated stockholders' equity, 12131/013 P17,600,000
There is no non-controlling interest, because Phil acquires 100% of the stock of Sony.

23.

NCI at fair value (P207,000/75%) x 25% P 69,000

Price paid (parent) 207,000


Total P 276,000

Less book of identifiable net assets Sisa 250,000

Excess allocated to equipment P 26,000

24.

NCI, January 1, 2013 P 69,000

NCI in subsidiary dividends (2,000 (10,000) shares x P20) 25% NCI in

adjusted total comprehensive income --- Sisa:

Total comprehensive income P60,000

Amortization (P26,000/10) (2,600) Adjusted total

comprehensive P57,400 income

NCI 25% 14,350


NCI, December31, 2013 P 73,350

25.
Total comprehensive income Pinoy P 100,000
Dividend income (P40,000 x 75%) Total

comprehensive income from own operations Pinoy

Adjusted total comprehensive income --- Sisa

Consolidated total comprehensive income

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