Advanced Accounting: Intercompany Profit Transactions Relating to Inventories summary

Elimination:


1 Sales xx
Cost of Goods Sold xx
2 Realized profit on beginning inventory
BI xx
CGS xx
3 Unrealized profit on ending inventory
CGS xx
EI xx

Parent Sales xx
Subsidiary Sales xx
Intercompany Sales (xx)
Combined Sales xx

Parent CGS xx
Subsidiary CGS xx
Intercompany Sales (xx)
Realized Profit - BI (xx)
Unrealized Profit - EI xx
Combined CGS xx

Parent Subsidiary
Net Income xx xx
Dividend Income (xx)
Amortization of Excess (xx)
Realized Profit - BI + Seller
Unrealized Profit - EI - Seller
Adjusted Net Income xx + xx = xx
NI Attrubuted to NCI x % of minority interest xx
CNI xx