Multiple Choices - Computational
Essay by Ryan Tongol • November 27, 2016 • Study Guide • 25,250 Words (101 Pages) • 1,414 Views
CHAPTER 17
MULTIPLE CHOICES - COMPUTATIONAL
17-1: b
Consolidated sales
Sales – Papa P 900,000
Sales – San 500,000
Elimination of inter-company sales ( 50,000)
Consolidated sales P 1,350,000
Consolidated cost of goods sold
Cost of goods sold – Papa P 490,000
Cost of goods sold – San 190,000
Eliminations:
Realized profit in beginning inventory ( 4,000)
Unrealized profit in ending inventory 10,000
Intercompany purchases ( 50,000)
Consolidated cost of goods sold P 636,000
17-2: c
Comprehensive income – Sisa P 60,000
Unrealized profit in ending inventory – upstream ( 10,000)
Adjusted CI – Sisa P 50,000
NCI proportionate share 20%
NCI in CI of subsidiary P 10,000
17-3: d
CI from own operation – Pat P 200,000
Adjusted CI of Susan:
CI – Susan P200,000
Realized profit in beginning inventory
(P112,000 x 50%/150%) 37,500
Unrealized profit in ending inventory
(P33,000 x 50%/150%) (11,000) 226,500
Consolidated CI P 426,500
Attributable to NCI (P226,500 x 30%) 67,950
Attributable to parent P 358,550
17-4: b
CI from own operations- Patton P 300,000
Unrealized profit in ending inventory – DS (P200,000 x .25) (50,000)
Adjusted CI for own operations – Patton 250,000
Solis net loss from own operations (150,000)
Consolidated CI P 100,000
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17-5: d
Pardo’s share of Santos’ CI (P300,000 x 75%) P 225,000
Unrealized profit in ending inventory – Upstream
(P200,000 x 25%/125%) x 75% ( 30,000)
Realized profit in beginning inventory – Upstream
(P150,000 x 25%/125%) x 75% 22,500
Investment income account balance, Dec. 31, 2013 P 217,500
17-6: d
CI from own operation – Puzon P 200,000
Suazon’s adjusted CI from own operations:
CI P110,000
Unrealized profit in ending inventory-
Upstream (P25,000 x 40%) ( 10,000) 100,000
Consolidated CI P 300,000
Attributable to NCI (P100,000 x 25%) (25.000)
Attributable to parent P 275,000
17-7: b
2012 2013
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