PT Pukis acquired a 90% stake in PT Serabi in early 20X8. During 20X8, PT Serabi sold inventory at a cost of Rp. 80 million to PT Pukis for Rp. 100 million. PT Pukis managed to sell 80% of the inventory obtained from PT Serabi to external parties and the rest was sold in 20X9.
In 20X9, PT Serabi again sold inventory to PT Pukis at a price of IDR 120 million. The cost of the inventory at PT Serabi was Rp. 96 million. As much as 30% of PT Pukis inventory which was purchased from PT Serabi in 20X9, is still left at the end of 20X9. Halaman 1 dari 2

Required:

1. Prepare an elimination entry at the end of years 20X8 and 20X9, regarding the intercompany transactions for inventory. PT Pukis uses the equity method. (15%)
2. Determine the consolidated net profit and net profit for non-controlling interests in 20X9, if in 20X9 the profit from its own operations obtained by PT Pukis is IDR 100 million and PT Serabi's net profit is IDR 50 million

Answer rating: 100% (QA)

1 In this question PT Serabi is the subsidiary company of PT Pukis In year 20X8 inventory of Rp 100 ... View the full answer