julrenia
Nov 1, 2009, 08:32 AM
Here is an example of a worksheet
Company L (Parent)
CONSOLIDATING WORKPAPERS
June 30, 2003
Company Company Company Company RECLASSIFICATIONS CONSOLIDATED
L (Parent) B C GV TOTAL ELIMINATIONS BALANCES ROUNDED
ASSETS
Current assets:
Cash and cash equivalents 1,780,160.04 347,865.21 8,608,700.91 1,307,450.00 12,044,176.16 12,044,176.16 12,044,000.00
Short term investments 13,963,632.00 13,963,632.00 13,963,632.00 13,964,000.00
Note receivable 3,983,415.89 3,983,415.89 (2,391,420) 1,591,995.89 1,592,000.00
Accounts receivable, net 13,067.10 7,144,601.00 7,157,668.10 7,157,668.10 7,158,000.00
Accounts receivable from related parties, net 500.00 38,528.36 39,028.36 39,028.36 39,000.00
Interest receivable 21,834.14 21,834.14 (17,699) 4,135.38 4,000.00
Income tax receivable 1,766,864.00 319,285.00 2,086,149.00 2,086,149.00 2,086,000.00
Inventories 6,437,962.00 6,437,962.00 6,437,962.00 6,438,000.00
Prepaid expenses 204,154.56 152,835.75 580,074.00 937,064.31 937,064.31 937,000.00
Deferred tax asset - - -
Total current assets 7,756,928.63 347,865.21 23,096,049.12 15,470,087.00 46,670,929.96 (2,409,119) 44,261,811.20 44,262,000.00
Fixed assets 92,502.75 67,845.51 4,210,127.41 826,262.00 5,196,737.67 5,196,737.67 5,197,000.00
Accumulated depreciation (35,001.20) (14,547.92) (3,579,155.01) (23,422.00) (3,652,126.13) (3,652,126.13) (3,652,000.00)
Net Fixed Assets 57,501.55 53,297.59 630,972.40 802,840.00 1,544,611.54 - 1,544,611.54 1,545,000.00
Cash, restricted 3,516,170.19 3,516,170.19 3,516,170.19 3,516,000.00
Goodwill, net 3,256,677.00 3,256,677.00 3,256,677.00 3,257,000.00
Investment in consolidated subsidiary 20,304,603.49 20,304,603.49 (20,304,603) - -
Investment in unconsolidated subsidiary 3,440,000.00 3,440,000.00 - 3,440,000.00 3,440,000.00
Other assets 8,045.75 43,162.00 51,207.75 - 51,207.75 51,000.00
Total assets 35,083,249.61 401,162.80 23,770,183.52 19,529,604.00 78,784,199.93 (22,713,722.25) 56,070,477.68 56,071,000.00
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable (220,871.09) (773,141.61) (1,908,609.00) (2,902,621.70) (2,902,621.70) (2,903,000.00)
Accounts payable to related party (72,969.00) (72,969.00) (72,969.00) (73,000.00)
Intercompany payable (8,674,250.00) (8,674,250.00) 2,409,119 (6,265,131.24) (6,265,000.00)
Interest payable - - -
Accrued expenses (328,716.65) (14.50) (987,738.20) (901,741.00) (2,218,210.35) (2,218,210.35) (2,218,000.00)
Warranty reserve (688,382.00) (688,382.00) (688,382.00) (688,000.00)
Income and other taxes payable - (96.00) (96.00) (96.00) -
Total current liabilities (549,587.74) (14.50) (1,833,848.81) (12,173,078.00) (14,556,529.05) 2,409,119 (12,147,410.29) (12,147,000.00)
Other long term liabilities (4,626.08) (4,626.08) (4,626.08) (5,000.00)
Minority interest in subsidiaries - (9,389,257) (9,389,257.00) (9,389,000.00)
Stockholders' equity:
Common stock (64,234.80) (19,070.00) (83,304.80) 19,070 (64,234.80) (64,000.00)
Preferred stock, series A (4.00) (3,360.00) (3,364.00) 3,360 (4.00) -
Stock warrants (80,000.00) (80,000.00) (80,000.00) (80,000.00)
Additional paid-in capital (138,163,780.58) (500,000.00) (31,950,142.00) (6,770,519.00) (177,384,441.58) 39,220,661 (138,163,780.58) (138,164,000.00)
Deferred stock compensation 56,664.12 56,664.12 (56,664) - -
Treasury stock 9,796,744.00 9,796,744.00 9,796,744.00 9,797,000.00
Retained earnings, beginning 91,523,491.02 16,707.05 677,053.00 92,217,251.07 (693,760) 91,523,491.02 91,523,000.00
Net income - qtr 09/30/02 1,399,317.15 19,141.66 1,016,921.71 2,435,380.52 (1,036,063) 1,399,317.15 1,399,000.00
Net income - qtr 12/31/02 2,357,622.22 25,185.38 1,806,680.63 4,189,488.23 (1,831,866) 2,357,622.22 2,358,000.00
Net income - qtr 03/31/03 (4,685,745.28) 11,630.64 2,000,718.63 (2,673,396.01) (2,012,349) (4,685,745.28) (4,686,000.00)
Translation adjustments (151.44) (151.44) (151.44) -
Net income (loss) 3,458,796.76 26,338.41 4,576,381.60 (586,007.00) 7,475,509.77 (4,016,713) 3,458,796.76 3,459,000.00
Other comprehensive income/(loss) (71,242.28) (98,183.00) (169,425.28) 98,183 (71,242.28) (71,000.00)
Total stockholders' equity (34,529,035.79) (401,148.30) (21,936,335.31) (7,356,526.00) (64,223,045.40) 29,693,858.17 (34,529,187.23) (34,529,000.00)
Total liabilities and stockholders'equity (35,083,249.61) (401,162.80) (23,770,184.12) (19,529,604.00) (78,784,200.53) 22,713,719.93 (56,070,480.59) (56,070,000.00)
- - (1.00) - (1.00) (2.00) (3.00) 1,000.00
For the quarter ended June 30, 2003
Sales
Products - - (127,615.00) (9,325,345.00) (9,452,960.00) (9,452,960.00) (9,453,000.00)
Products, related party - - (952,050.00) (952,050.00) (952,050.00) (952,000.00)
Other, related party - - -
- - (1,079,665.00) (9,325,345.00) (10,405,010.00) - (10,405,010.00) (10,405,000.00)
Cost of sales
Products - - 69,010.00 6,630,595.00 6,699,605.00 6,699,605.00 6,700,000.00
Products, related party - - 789,342.00 789,342.00 789,342.00 789,000.00
Write-down of inventory - - - - - -
- - 858,352.00 6,630,595.00 7,488,947.00 - 7,488,947.00 7,489,000.00
Gross profit - - (221,313.00) (2,694,750.00) (2,916,063.00) - (2,916,063.00) (2,916,000.00)
Operating expenses:
Sales and marketing - - 57,328.94 402,047.00 459,375.94 459,375.94 459,000.00
Research and development - - 1,577,722.98 172,830.00 1,750,552.98 1,750,552.98 1,751,000.00
General and administrative 743,941.02 26,737.33 3,166,463.16 500,858.00 4,437,999.51 4,437,999.51 4,438,000.00
Customer care - - - 67,998.00 67,998.00 67,998.00 68,000.00
Operations/warehousing - - 83,227.71 480,794.00 564,021.71 564,021.71 564,000.00
Product delivery cost 401,696.00 401,696.00 401,696.00 402,000.00
Total operating expenses 743,941.02 26,737.33 4,884,742.79 2,026,223.00 7,681,644.14 - 7,681,644.14 7,682,000.00
Loss from operations 743,941.02 26,737.33 4,663,429.79 (668,527.00) 4,765,581.14 - 4,765,581.14 4,766,000.00
Other income(expenses):
Interest income (46,187.52) (398.93) (87,048.19) (133,634.64) 17,699 (115,935.88) (116,000.00)
Interest expense 136.80 - - 82,520.00 82,656.80 (17,699) 64,958.04 65,000.00
Loss on sale of assets - - - - - -
Gain on dissolution of subsidiary - - - - - -
Foreign exchange gain (loss) and Other - - - - - -
Equity in earnings (loss) of unconsolidated subsidiaries - - - - - -
Other income/expense (500.00) - - (500.00) (500.00) (1,000.00)
(46,550.72) (398.93) (87,048.19) 82,520.00 (51,477.84) - (51,477.84) (52,000.00)
Inc (loss) before inc tax, min int and disc ops 697,390.30 26,338.41 4,576,381.60 (586,007.00) 4,714,103.31 - 4,714,103.31 4,714,000.00
Provision for income taxes - - - - - -
Inc (loss) before min int and disc ops 697,390.30 26,338.41 4,576,381.60 (586,007.00) 4,714,103.31 - 4,714,103.31 4,714,000.00
Minority interest in loss/(income) of consolidated subsidiaries 2,761,406.46 2,761,406.46 (4,016,713) (1,255,306.55) (1,255,000.00)
Income (loss) from continuing operations 3,458,796.76 26,338.41 4,576,381.60 (586,007.00) 7,475,509.77 (4,016,713.01) 3,458,796.76 3,459,000.00
Income from discontinued operations, net of tax - - -
Gain on disposal of discontinued operations, net of tax - - -
Discontinued Operations - - - - - -
Net income $3,458,796.76 $26,338.41 $4,576,381.60 $(586,007.00) $7,475,509.77 $(4,016,713.01) $3,458,796.76 $3,459,000.00