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On January 2 2 0 2 2 , PT Putri in Indonesia purchased 8 0 % of the outstanding shares of PT Sunny located inSingapore.
On January PT Putri in Indonesia purchased of the outstanding shares of PT Sunny located inSingapore. The investment cost in Singapore DollarsS$ is S$ and the fair value of NonControlling Interest NCI is S$ Thedifference between the fair value of PT Sunny's netassets and its book value is allocated to inventory andequipment, the respective book values of which aretoo low by S$ and S$ while theremainder is recognized as goodwill. Equipmentis amortized over years.Trial balance as of December of PTPutri in rupiah and PT Sunny in Singapore Dollarsis as follows:ItemCashAccountsReceivable netInventoryPlant andEquipmentCost of GoodsSoldDepreciationExpenscOperatingExpensesInterest ExpenseDividends PaidInvestment in PTSunnyTotal DebitsAccumulatedDepreciationAccounts PayableInterest PayableBonds PayableCommon StockRetainedEarnings, Jan SalesOCITranslationAdjustmentTotal CreditsPT Putriin rupiahIDR OIDR IDR OIDR PT Sunnyin SingaporeDollarsSS OLS$ SS S$ Additional information: In there will be no impairment ofgoodwill Dividends declared and paid on Oct The Singapore Dollar to Rupiah exchangerate is as follows:January Oct December Installment Requested:SS I RpSS RpSS I RpSS Rp Calculate the goodwill recognized upon acquisition Create a table for the translation of PT Sunny's trialbalance from Singapore Dollars to Rupiah on December Create a table for 'proof of the translationadjustment Make a table for amortization of price differences Make journal entries in PT Putri's booksand post them to the "Investment in PTSunny' account to get the final balance Prepare the consolidation journal entriesneeded to prepare the consolidation workingpapers as of December Prepare consolidated working papers as ofDecember
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