Quiz 3 - Intercompany Sales

Question 1

How do you find Consolidated Inventory?

Answer 1

Inventory - P (12/31) xx
Inventory - S (12/31) xx
+- FV adjustments @ Date of Acqui xx(xx)
+- Cumul Amort. of PD xx(xx)
——————————–
Conso Inventory xx

Question 2

How do you find consolidated PPE?

Answer 2

PPE - P xx
PPE - S xx
+- FV adjustments @ Date of Aqcui xx(xx)
+- Cumul Amort of PPE xx(xx)
————————————-
Conso PPE xx

Question 3

How do you find the consolidated total assets?

Answer 3

TA - P xx
TA - S xx
GW (net) xx
+- FV adjustments xx(xx)
+- Cumul Amort of PD xx(xx)
-Investment in Subs (xx)
-Intercompany assets (xx)
——————————————
Conso Total Assets xx

Question 4

How do you find consolidated total liabilities?

Answer 4

TL - P xx
TL - S xx
+- FV adjustments xx(xx)
+- Cumul Amort of PD xx(xx)
- Intercompany liabs (xx)
———————————–
Conso Total Liabs xx

Question 5

How do you find consolidated total contributed capital?

Answer 5

OSC - P xx
PSC - P xx
SP - P xx
SSC - P xx
—————————-
Consolidated TCC xx