2. 16 – 1 : b
Sales – Papa P 900,000
Sales – San 500,000
Elimination of intercompany sales (50,000)
Consolidated Sales P 1,350,000
Consolidated cost of goods sold – Papa P 490,000
Consolidated 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
3. 16 – 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
4. 16 – 3 : d
CI from own operation – Pat P 200,000
Adjusted CI of Susan:
CI – Susan P 200,000
Realized profit in beginning inventory
(P 112,500 x 50% / 150%) 37,500
Unrealized profit in ending inventory
(P 33,000 x 50% / 150%) (11,000) 226,500
Consolidated CI P 426,500
Attributable to NCI (P 226,500 x 30%) 67,950
Attributable to parent P 358,550
5. CI from own operations – Patton P 300,000
Unrealized profit in ending inventory- DS (P 200,000 x .25) ( 50,000 )
Adjusted CI for own operations – Patton P 250,000
Solis net loss from own operations ( 150,000 )
Consolidated CI P 100,000
16-4:
b
6. CI from own operation – Pip P 400,000
Adjusted CI from own operation – Sol
CI P 250,000
Realized profit in beginning inventory-
Upstream (P 40,000 x 40%) 16,000
Unrealized profit in ending inventory-
Upstream ( P 70,000 x 30%) ( 21,000 ) 245,000
Consolidated CI – 2017 P 645,000
16-7:
a
7. CI from own operations – Popo P 500,000
Unrealized profit in ending inventory – Downstream ( 15,000 )
Realized CI from own operations – Popo P 485,000
Adjusted CI from own operations – Sotto
CI P 360,000
Realized profit in beginning inventory- Upstream 10,000 370,000
Consolidated CI P 855,000
Attributable to NCI (P 370,000 x 5%) 18, 500
Attributable to parent P 836,500
16-8:
a
12. 16-11: b
Gross profit of Sir (P120,000 / P400,000) 30%
Consolidated cost of sales
Cost of sales – Pig P 600,000
Cost of sales – Sir 280,000
Eliminations:
Realized profit in beginning inventory (P70,000 x 30%) ( 21,000)
Unrealized profit in ending inventory (P60,000 x 30%) 18,000
Intercompany sales (200,000)
Consolidated cost of sales P 677,000
13. 16-11: b
Consolidated CI
CI from own operations – Pig P 200,000
Sir’s adjusted CI:
CI P 80,000
Realized profit in beginning inventory 21,000
Unrealized profit in ending inventory ( 18,000) 83,000
Consolidated CI P 283,000
Attributable to NCI (P83,000 x 10%) ( 8,300)
Attributable to parent P 274,700
14. 16-12: a
2015 2016 2017
Pal Corp CI P 150,000 P 240,000 P 300,000
Intercompany profit in ending inventory:
2015 ( 14,000) 14,000
2016 ( 21,000) 21,000
2017 ( 24,000)
Pal CI from own operation P 136,000 P 233,000 P 297,000
Sea CI from own operation 100,000 90,000 160,000
Consolidated CI P 236,000 P 323,000 P 427,000
Attributable to NCI
2015 (100,000 – 14,000) x 40% 34,400
2016 (90,000 +14,000 – 21,000) x 40% 33,200
2017(160,000 + 21,000 – 24,000) 40% 62,800
Attributable to Parent P 201,600 P 289,800 P 394,200
21. 18. a
Cost of goods sold on sale of inventory on hand
[(120,000/180,000) × 45,000] ₱ 30,000
Cost of goods sold on purchases from Sarsi
[(90,000/135,000) × (135,000 – 30,000)] 70,000
Cost of goods sold on purchase from Pepsi
[140,000/280,000) × (280,000 – 110,000)] 85,000
Consolidated cost of goods sold – 2017 ₱ 185,000
22. 19. b
Pepsi CI ₱ 220,000
Sarsi CI 85,000
Realized profit in beginning inventory 15,000
Unrealized profit in ending inventory – Sars ( 10,000)
Unrealized profit in ending inventory – Pepsi ( 55,000)
Consolidated CI – 2017 ₱ 255,000
23. 16-20:
CI from own operations – P Company ₱ 200, 000
S Company adjusted CI:
CI – S ₱ 30, 000
Unrealized profit in ending inventory –
Upstream (₱9,000 x 50/150) ( 3, 000)
Realized profit in beginning inventory –
Upstream (₱6,000 x 50/150) 2, 000 29, 000
Consolidated CI ₱ 229, 000
Attributable to NCI (₱ 29, 000 x 30%) ( 8, 700)
Attributable to parent ₱ 220, 300 b.
24. 16-21 :
NCI, December 31, 2016 [(₱ 245,000/70%) x 30%] ₱ 105, 000
NCI in subsidiary dividends (₱ 20,000 x 30%) ( 6, 000)
NCI in CI of subsidiary 8, 700
NCI in S Company, December 31, 2017 ₱ 107, 700 b.