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What is the journals recorded in the book pizzeria

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Reference no: EM133012615

T Pizzeria bought 80% of the outstanding shares owned by its supplier, PT Sizzleria. At the time of acquisition, Sizzleria's book value was equal to its fair value. Pizzeria sold a production machine on January 2, 2013 to Sizzleria for IDR 100,000,000. The machine has a book value of Rp90,000,000 with an initial cost of Rp120,000,000. The economic life of the machine is still 10 years and is not estimated to have a residual value. Both Pizzeria and Sizzleria record depreciation using the straight-line method. At the end of 2013, Sizzleria announced a net profit of Rp80,000,000

Problem 1: What is the...

a. Journals recorded in the book Pizzeria and Sizzleria in 2013:

  1. On the date of sale of the machine.
  2. At the end of the year, which consists of journals to record depreciation and income investment.

b. Eliminating/adjusting journal entries in the consolidated worksheet at the end of 2013.
c. Eliminating/adjusting journal entries in the consolidated worksheet at the end of 2014.

Reference no: EM133012615

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