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Debit Credit

Sales 1,200 800 1 260 1,740


Deviden Income 75 - 5 75 -
Cost of sales (540) (420) 1 260 (720)
3 40 2 20
operating expenses (290) (80) (370)
NCI expenses 4 75 (75)
net income 445 300 575
beginning retained earning 325 180 2 20 6 60 365
7 180
less: devidends (300) (100) 4 25 (300)
5 75
retained earning, ending year 470 380 640
cash 170 60 230
account receivable 330 200 9 30 500
devidends receivable 30 - 10 30 -
inventories 120 160 3 40 240
land 160 100 260
building- net 460 200 660
equipments - net 400 280 680
Investment in S 600 - 6 60 7 660 -
goodwill 8 400 400
unamortized excess 7 400 8 400 -
Total assets 2,270 1,000 2,970
account payable 450 200 9 30 620
devidends payable 140 40 10 30 150
other liabilities 310 80 390
common stock, $10 par 900 300 7 300 900
retained earnings 470 380 640
NCI 4 50 270
7 220
total equities 2,270 1,000 1,870 1,870 2,970
Working papers
Pay Sue
Adjustment & Ellimination
Consolidated
Debit Credit
Sales 8,190 5,600 5,600 8,190
Deviden Income 450 - 450 -
Cost of sales (5,460) (4,000) 120 5,600 (3,900)
80
operating expenses (1,544) (600) 50 (2,194)
NCI expense 91 (91)
net income 1,636 1,000 2,005
beginning retained earning 1,137 700 72 135 1,200 2763
700
less: devidends (1,000) (500) 50 (1,000)
450
retained earning, ending year 1,773 1,200 2,205
cash 753 500 1,253
inventory 420 800 120 1,100
other current assets 600 200 100 700
plant assets - net 3,000 3,000 6,000
Investment in S 2,700 - 135 2,835 -
unamortized 450 450 -
patent 450 50 400
Total assets 7,473 4,500 9,453
current liabilities 1,700 1,300 100 2,900
Capital stock stock 4,000 2,000 2,000 4,000
retained earnings 1,773 1,200 2,205
NCI 8 41 348
315
total equities 7,473 4,500 9,453
Working papers
Pol San
Adjustment & Ellimination
Consolidated
Debit Credit
Sales 800 400 120 1,080
Deviden Income 50 - 50 -
Cost of sales (400) (200) 12 120 (472)
20
depreciation expenses (110) (40) (150)
other expenses (192) (60) (252)
net income 148 100 206
beginning retained earning 576 380 20 50 606
380
less: devidends (100) (50) 50 (100)
retained earning, ending year 624 430 712
cash 54 37 91
account receivable 90 60 17 133
inventories 100 80 12 168
others assets 70 90 160
land 50 50 100
building- net 200 150 350
equipments - net 500 400 900
Investment in S 660 - 50 710 -
unamortized 30 30 -
goodwill 30 30
Total assets 1,724 867 1,932
account payable 160 47 17 190
other liabilities 340 90 430
common stock, $10 par 600 300 300 600
retained earnings 624 430 712
total equities 1,724 867 1,932
Working papers
Pan Sal
Adjustment & Ellimination
Consolidated