s****i
发帖数: 66 | 1 On Jan 1, year 3, Perterson sold equipment to Silver for $120,000, which was
originally purchased on Jan,1,year 1,for $100,000.Peterson was depreciating
the equipment over 10 years using straight-line depreciation. There was no
salvage value.Silver decides to depreciate the equipment over eight years.
also using straight-line depreciation with no salvage value.Assume all other
appropriate year-end and income tax journal entries have been made.
Eliminating JE at Dec.31,year3:
Dr. Gain on sale 40,000
Cr. AD 15,000
Cr. Depreciation expense 5,000
Cr. Equipment 20,000
我不明白 AD,Dep exp, equipment这三个数是怎么算出来的。有人明白么？谢谢！
2. Thoughout year 3, Peterson sold merchandise costing $30,000 to Silver at a price of $50,000.Silver sold 60% of the inventory by Dec.31, year 3.Silver remitted payment to Peterson before year-end. Eliminating JE at Dec.31,year 3:
Dr. Sales 50,000
Cr. Inventory 8,000
Cr. Cost of goods sold 42,000
不明白inventory and COGS怎么算出来的？多谢！！ | l****z
发帖数: 29846 | 2 人懒, 就看了第二道题目,大概理解是这样, 不知道对不对.
COGS
P ->S 记录了
AR 50K (这个已经付款了,所以不用eliminate)
Sales 50K (这个要eliminate)
COGS 30K (这个要eliminate)
Inventory 30K
S的账上记有50K的inventory,卖掉60%,记录COGS 30K,不eliminate的话,加起来COGS有
60K,但实际上的cogs是30*0.6=18K. 60-18=42.
那个inventory的要eliminate剩下的intercompany profit in inventory应该是20*0.4=8K. | q****t
发帖数: 125 | 3 #1
AD: is $15K before consolidation (120K/8=15K for year 3; recorded by Silver
); should be $30K after consolidation (100K/10 for year 1 to 3; for the
consolidated entity); therefore need to book up $15K, which is a credit to
AD.
Dep Exp: is $15K before consolidation (120K/8=15K for year 3; recorded by
Silver); should be $10K after consolidation (100K/10); therefore need to
reduce by $5K, a credit to Dep Exp.
Equipment: is $120K before consolidation (booked by Silver per purchase
price); should be $100K for consolidated entity; therefore need to reduce by
$20K, a credit to Equipment.
As long as you know what each line item should be for the consolidated
entity, you will be able to figure out the elimination entry. |
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