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Title: Advanced Accounting: Intercompany Profit Transactions Inventories
Description: Summary for intercompany profit transactions relating to inventories
Description: Summary for intercompany profit transactions relating to inventories
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Elimination:
xx
1 Sales
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
Subsidiary Sales
Intercompany Sales
Combined Sales
xx
xx
(xx)
xx
Parent CGS
Subsidiary CGS
Intercompany Sales
Realized Profit - BI
Unrealized Profit - EI
Combined CGS
xx
xx
(xx)
(xx)
xx
xx
Net Income
Dividend Income
Amortization of Excess
Realized Profit - BI
Unrealized Profit - EI
Adjusted Net Income
NI Attrubuted to NCI
CNI
Parent
xx
(xx)
Subsidiary
xx
(xx)
xx
+ Seller
- Seller
+
xx
=
x % of minority interest
xx
xx
xx
Title: Advanced Accounting: Intercompany Profit Transactions Inventories
Description: Summary for intercompany profit transactions relating to inventories
Description: Summary for intercompany profit transactions relating to inventories