Anggota Kelompok 2 :

Sri Kartika Afanty

Sri Wahyuni Rachman

Alfaega Rantepadang

Idham Syam

Yulia Asrida

Andi Ardiansyah

Adjustment and Elimination Journal

Account Name

a. To eliminate intercompany sales and related cost of goods

Sales

Cost of good sold

b. To adjust cost of goods and beginning investment balance for

unrealized profit s in the beginning inventory

Investment in sal

Cost of good sold

c. To eliminate unrealized profit in the ending inventory and to

increase cost of goods sold to a cost basis to the consolidated

Cost of goods sold

Inventory

d. To eliminate the investment income and devidens of Seay

and to reduce the investment account to its beginning-of-the

period balance

Income form sal

Devidends

Investment in Sal

e To eliminate reciprocal investment and equity balance and

record beginning minority interest

Capital stock-Sal

Retained earnings-Sal

goodwill

Investment in Sal

f To eliminate recoprocal payables and receivables from

intercompany sales

Accounts payables

accounts receivable

Debit ($) Credit ($)

120,000

120,000

20,000

20,000

12,000

12,000

108,000

50,000

58,000

300,000

380,000

30,000

710,000

17,000

17,000

PAN CORPORATION AND SUBSIDIARY

CONSOLIDATION WORKING PAPERS

FOR THE YEAR ENDED DECEMBER 31, 2007 (IN THOUSANDS)

Account Name

Income Stetement

Net sales

income from sal

cost of good sold

akumulasi expense

Other axpense

Net Income

Retained Eranings

Retained earning-pan

Retained earning-Sal

Net income

Devidends

Retained earnings-Decemeber 31, 2007

Balance Sheet

cash

Account receivables

Inventories

Other current assets

Land

building

equipment

investasi dalam sal

goodwill

Total assets

current liabilities

Other liabilities

capital stock

retained earnings

Total equities

To record income from Seay for 2007

Equity in Sal's net income

Add: 2006 inventory profit recognized in 2007

Less: 2007 inventory profit deferred at year end

Total income form Sal for 2007

pan 100% sal

800,00 400,00 a. 120,00

108,00 e 108,00

(400,00) (200,00) c. 12,00 a. 120,00

b. 20,00

(110,00) (40,00)

(192,00) (60,00)

206,00 100,00

606,00

380,00 f. 380,00

206,00 100,00

(100,00) (50,00) e. 50,00

Adjustment and Eliminations

712,00 430,00

54,00 37,00

90,00 60,00 d. 17,00

100,00 80,00 c. 12,00

70,00 90,00

50,00 50,00

200,00 150,00

500,00 400,00

748,00 b. 20,00

f. 710,00

e 58,00

f 30,00

1.812,00 867,00

160,00 47,00 d 17,00

340,00 90,00

600,00 300,00 f. 300,00

712,00 430,00

1.812,00 867,00

100,000.00

20,000.00

(12,000.00)

108,000.00

Consolidated stat.

1.080,00

-

(472,00)

(150,00)

(252,00)

206,00

606,00

-

206,00

(100,00)

712,00

91,00

133,00

168,00

160,00

100,00

350,00

900,00

-

30,00

1.932,00

190,00

430,00

600,00

712,00

1.932,00