Solution Manual For All Chapters
SOLUTION MANUAL FOR ADVANCED ACCOUNTING 15TH EDITION
BY JOE BEN HOYLE, THOMAS SCHAEF ER AND TIMOTHY DOUPNIK
2-1
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,CHAPTER 1-19 H
CHAPTER1 TH H
E EQUITY METHOD OF ACCOUNTING FOR INVESTMENTS
H H H H H H
ChapterHOutline
FourHmethodsHareHprincipallyHusedHtoHaccountHforHanHinvestmentHinHequityHsecuritiesHalongH
withHaHfairHvalueHoption.
FairHvalueHmethod:HappliedHbyHanHinvestorHwhenHonlyHaHsmallHpercentageH
ofHaHcompany‘sHvotingHstockHisHheld.
TheHinvestorHrecognizesHincomeHwhenHtheHinvesteeHdeclaresHaHdividend.
PortfoliosHareHreportedHatHfairHvalue.HIfHfairHvaluesHareHunavailable,Hinvestmen
tHisHreportedHatHcost.
CostHMethod:HappliedHtoHinvestmentsHwithoutHaHreadilyHdeterminableHfairHvalue.HWhe
nHtHheHfairHvalueHofHanHinvestmentHinHequityHsecuritiesHisHnotHreadilyHdeterminable,Han
dHtheHiHnvestmentHprovidesHneitherHsignificantHinfluenceHnorHcontrol,HtheHinvestmentH
mayHbeHmHeasuredHatHcost.HTheHinvestmentHremainsHatHcostHunless
AHdemonstrableHimpairmentHoccursHforHtheHinvestment,Hor
AnHobservableHpriceHchangeHoccursHforHidenticalHorHsimilarHinvestmentsHofHtheHsa
meHiHssuer.
TheHinvestorHtypicallyHrecognizesHitsHshareHofHinvesteeHdividendsHdeclaredHasHdivide
ndHiHncome.
Consolidation:HwhenHoneHfirmHcontrolsHanotherH(e.g.,HwhenHaHparentHhasHaHmajorit
yHinHterestHinHtheHvotingHstockHofHaHsubsidiaryHorHcontrolHthroughHvariableHinterests,
HtheirHfiHnancialHstatementsHareHconsolidatedHandHreportedHforHtheHcombinedHentity.
EquityHmethod:HappliedHwhenHtheHinvestorHhasHtheHabilityHtoHexerciseHsignific
antHinfluenceHoverHoperatingHandHfinancialHpoliciesHofHtheHinvestee.
AbilityHtoHsignificantlyHinfluenceHinvesteeHisHindicatedHbyHseveralHfactorsHincludingH
representationHonHtheHboardHofHdirectors,HparticipationHinHpolicy-making,Hetc.
GAAPHguidelinesHpresumeHtheHequityHmethodHisHapplicableHifH20HtoH50HpercentHofHthe
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, outstandingHvotingHstockHofHtheHinvesteeHisHheldHbyHtheHinvestor.
CurrentHfinancialHreportingHstandardsHallowHfirmsHtoHelectHtoHuseHfairHvalueHforHanyHnewHin
vesHtmentHinHequityHsharesHincludingHthoseHwhereHtheHequityHmethodHwouldHotherwiseHap
ply.HHoHwever,HtheHoption,HonceHtaken,HisHirrevocable.HTheHinvestorHrecognizesHbothHinves
teeHdivideHndsHandHchangesHinHfairHvalueHoverHtimeHasHincome.
AccountingHforHanHinvestment:HtheHequityHmethod
TheHinvestorHadjustsHtheHinvestmentHaccountHtoHreflectHallHchangesHinHtheHequityHofHt
heHiHnvesteeHcompany.
TheHinvestorHaccruesHinvesteeHincomeHwhenHitHisHreportedHinHtheHinvestee‘sHfinan
cialHstatements.
DividendsHdeclaredHbyHtheHinvesteeHcreateHaHreductionHinHtheHcarryingHamountHofHthe
HInHvestmentHaccount.HThisHbookHassumesHallHinvesteeHdividendsHareHdeclaredHandH
paidHinHtheHsameHreportingHperiod.
SpecialHaccountingHproceduresHusedHinHtheHapplicationHofHtheHequityHmethod
ReportingHaHchangeHtoHtheHequityHmethodHwhenHtheHabilityHtoHsignificantlyHinfluenceH
anHiHnvesteeHisHachievedHthroughHaHseriesHofHacquisitions.
InitialHpurchase(s)HwillHbeHaccountedHforHbyHmeansHofHtheHfairHvalueHmethodH(o
rHatHcost)HuntilHtheHabilityHtoHsignificantlyHinfluenceHisHattained.
WhenHtheHabilityHtoHexerciseHsignificantHinfluenceHoccursHfollowingHaHseriesHofHsto
ckHpurchases,HtheHinvestorHappliesHtheHequityHmethodHprospectively.HTheHtotalHfai
rHvaluHeHatHtheHdateHsignificantHinfluenceHisHattainedHisHcomparedHtoHtheHinvestee‘
sHbookHvaHlueHtoHdetermineHfutureHexcessHfairHvalueHamortizations.
InvesteeHincomeHfromHotherHthanHcontinuingHoperations
TheHinvestorHrecognizesHitsHshareHofHinvesteeHreportedHotherHcomprehensiveH
incomeH(OCI)HthroughHtheHinvestmentHaccountHandHtheHinvestor‘sHownHOCI.
IncomeHitemsHsuchHasHdiscontinuedHoperationsHthatHareHreportedHseparatelyHbyHth
eHiHnvesteeHshouldHbeHshownHinHtheHsameHmannerHbyHtheHinvestor.HTheHmaterialit
yHofHthHeseHotherHinvesteeHincomeHelementsH(asHitHaffectsHtheHinvestor)HcontinuesH
toHbeHaHcriHterionHforHseparateHdisclosure.
InvesteeHlosses
LossesHreportedHbyHtheHinvesteeHcreateHcorrespondingHlossesHforHtheHinvestor.
AHpermanentHdeclineHinHtheHfairHvalueHofHanHinvestee‘sHstockHshouldHbeHrecogniz
edHiHmmediatelyHbyHtheHinvestorHasHanHimpairmentHloss.
InvesteeHlossesHcanHpossiblyHreduceHtheHcarryingHvalueHofHtheHinvestmentHaccou
ntHtHoHaHzeroHbalance.HAtHthatHpoint,HtheHequityHmethodHceasesHtoHbeHapplicableHa
ndHtheHfHair-valueHmethodHisHsubsequentlyHused.
ReportingHtheHsaleHofHanHequityHinvestment
TheHinvestorHappliesHtheHequityHmethodHuntilHtheHdisposalHdateHtoHestablishHaHpro
perHbookHvalue.
FollowingHtheHsale,HtheHequityHmethodHcontinuesHtoHbeHappropriateHifHenoughHshar
esHareHstillHheldHtoHmaintainHtheHinvestor‘sHabilityHtoHsignificantlyHinfluenceHtheHinve
stee.HIHfHthatHabilityHhasHbeenHlost,HtheHfair-valueHmethodHisHsubsequentlyHused.
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, SolutionHManualHForHAllHChapters
IV. ExcessHinvestmentHcostHoverHbookHvalueHacquired
TheHpriceHanHinvestorHpaysHforHequityHsecuritiesHoftenHdiffersHsignificantlyHfromHt
heHiHnvestee‘sHunderlyingHbookHvalueHprimarilyHbecauseHtheHhistoricalHcostHbase
dHaccoHuntingHmodelHdoesHnotHkeepHtrackHofHchangesHinHaHfirm‘sHfairHvalue.
PaymentsHmadeHinHexcessHofHunderlyingHbookHvalueHcanHsometimesHbeHidentifiedH
withHspecificHinvesteeHaccountsHsuchHasHinventoryHorHequipment.
AnHextraHacquisitionHpriceHcanHalsoHbeHassignedHtoHanticipatedHbenefitsHthatHareHexpectH
edHtoHbeHderivedHfromHtheHinvestment.HInHaccounting,HtheseHamountsHareHpresumedHtoHr
eflectHanHintangibleHassetHreferredHtoHasHgoodwill.HGoodwillHisHcalculatedHasHanyHexcesH
sHpaymentHthatHisHnotHattributableHtoHspecificHidentifiableHassetsHandHliabilitiesHofHtheHinvH
estee.HBecauseHgoodwillHisHanHindefinite-livedHasset,HitHisHnotHamortized.
V.DeferralHofHintra-entityHgrossHprofitHinHinventory
TheHinvestor‘sHshareHofHintra-
entityHprofitsHinHendingHinventoryHareHnotHrecognizedHuntilHtheHtransferredHgoodsHareH
eithHerHconsumedHorHuntilHtheyHareHresoldHtoHunrelatedHparties.
DownstreamHsalesHofHinventory
―Downstream‖HrefersHtoHtransfersHmadeHbyHtheHinvestorHtoHtheHinvestee.
Intra-
entityHgrossHprofitsHfromHsalesHareHinitiallyHdeferredHunderHtheHequityHmethodHa
ndHtHhenHrecognizedHasHincomeHatHtheHtimeHofHtheHinventory‘sHeventualHdisposa
l.
TheHamountHofHgrossHprofitHtoHbeHdeferredHisHtheHinvestor‘sHownershipHpercentageH
multipliedHbyHtheHmarkupHonHtheHmerchandiseHremainingHatHtheHendHofHtheHyear.
UpstreamHsalesHofHinventory
―Upstream‖HrefersHtoHtransfersHmadeHbyHtheHinvesteeHtoHtheHinvestor.
UnderHtheHequityHmethod,HtheHdeferralHprocessHforHintra-
entityHgrossHprofitsHisHidenticalHforHupstreamHandHdownstreamHtransfers.HTheHproc
edHuresHareHseparatelyHidentifiedHinHChapterHOneHbecauseHtheHhandlingHdoesHvar
yHwithHinHtheHconsolidationHprocess.
AnswersHtoHDiscussionHQuestions
TheHtextbookHincludesHdiscussionHquestionsHtoHstimulateHstudentHthoughtHandHdiscussion.HTheseHqHu
estionsHareHalsoHdesignedHtoHallowHstudentsHtoHconsiderHrelevantHissuesHthatHmightHotherwiseHbeHoHv
erlooked.HSomeHofHtheseHquestionsHmayHbeHaddressedHbyHtheHinstructorHinHclassHtoHmotivateHstudeHn
tHdiscussion.HStudentsHshouldHbeHencouragedHtoHbeginHbyHdefiningHtheHissue(s)HinHeachHcase.HNext
authoritativeHaccountingHliteratureH(FASBHASC)HorHotherHrelevantHliteratureHcanHbeHconsultedHas
HaHpreliminaryHstepHinHarrivingHatHlogicalHactions.HFrequently,HtheHFASBHAccountingHStandardsHC
odificHationHwillHprovideHtheHnecessaryHsupport.
Unfortunately,HinHaccounting,HdefinitiveHresolutionsHtoHfinancialHreportingHquestionsHareHnotHalway
sHaHvailable.HStudentsHoftenHseemHtoHbelieveHthatHallHaccountingHissuesHhaveHbeenHresolvedHinHth
eHpastHsoHthatHaccountingHeducationHisHonlyHaHmatterHofHlearningHtoHapplyHhistoricallyHprescribedH
procedureHs.HHowever,HinHactualHpractice,HtheHonlyHrealHanswerHisHoftenHtheHoneHthatHprovidesHth
eHfairestHrepresHentationHofHtheHfirm‘sHtransactions.HIfHanHauthoritativeHsolutionHisHnotHavailable,Hst
udentsHshouldHbeHdHirectedHtoHlistHallHofHtheHissuesHinvolvedHandHtheHconsequencesHofHpossibleHal
ternativeHactions.HTheHvariousHfactorsHpresentedHcanHbeHweighedHtoHproduceHaHviableHsolution.
TheHdiscussionHquestionsHareHdesignedHtoHhelpHstudentsHdevelopHresearchHandHcriticalHthinkingH
skillHsHinHaddressingHissuesHthatHgoHbeyondHtheHpurelyHmechanicalHelementsHofHaccounting.
2-3
©YMcGrawYHillYLLC.YAllYrightsYreserved.YNoYreproductionYorYdistributionYwithoutYtheYpriorYwrittenYconsentYofYMcGrawYHillYLL
SOLUTION MANUAL FOR ADVANCED ACCOUNTING 15TH EDITION
BY JOE BEN HOYLE, THOMAS SCHAEF ER AND TIMOTHY DOUPNIK
2-1
©YMcGrawYHillYLLC.YAllYrightsYreserved.YNoYreproductionYorYdistributionYwithoutYtheYpriorYwrittenYconsentYofYMcGrawYHillYLL
,CHAPTER 1-19 H
CHAPTER1 TH H
E EQUITY METHOD OF ACCOUNTING FOR INVESTMENTS
H H H H H H
ChapterHOutline
FourHmethodsHareHprincipallyHusedHtoHaccountHforHanHinvestmentHinHequityHsecuritiesHalongH
withHaHfairHvalueHoption.
FairHvalueHmethod:HappliedHbyHanHinvestorHwhenHonlyHaHsmallHpercentageH
ofHaHcompany‘sHvotingHstockHisHheld.
TheHinvestorHrecognizesHincomeHwhenHtheHinvesteeHdeclaresHaHdividend.
PortfoliosHareHreportedHatHfairHvalue.HIfHfairHvaluesHareHunavailable,Hinvestmen
tHisHreportedHatHcost.
CostHMethod:HappliedHtoHinvestmentsHwithoutHaHreadilyHdeterminableHfairHvalue.HWhe
nHtHheHfairHvalueHofHanHinvestmentHinHequityHsecuritiesHisHnotHreadilyHdeterminable,Han
dHtheHiHnvestmentHprovidesHneitherHsignificantHinfluenceHnorHcontrol,HtheHinvestmentH
mayHbeHmHeasuredHatHcost.HTheHinvestmentHremainsHatHcostHunless
AHdemonstrableHimpairmentHoccursHforHtheHinvestment,Hor
AnHobservableHpriceHchangeHoccursHforHidenticalHorHsimilarHinvestmentsHofHtheHsa
meHiHssuer.
TheHinvestorHtypicallyHrecognizesHitsHshareHofHinvesteeHdividendsHdeclaredHasHdivide
ndHiHncome.
Consolidation:HwhenHoneHfirmHcontrolsHanotherH(e.g.,HwhenHaHparentHhasHaHmajorit
yHinHterestHinHtheHvotingHstockHofHaHsubsidiaryHorHcontrolHthroughHvariableHinterests,
HtheirHfiHnancialHstatementsHareHconsolidatedHandHreportedHforHtheHcombinedHentity.
EquityHmethod:HappliedHwhenHtheHinvestorHhasHtheHabilityHtoHexerciseHsignific
antHinfluenceHoverHoperatingHandHfinancialHpoliciesHofHtheHinvestee.
AbilityHtoHsignificantlyHinfluenceHinvesteeHisHindicatedHbyHseveralHfactorsHincludingH
representationHonHtheHboardHofHdirectors,HparticipationHinHpolicy-making,Hetc.
GAAPHguidelinesHpresumeHtheHequityHmethodHisHapplicableHifH20HtoH50HpercentHofHthe
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, outstandingHvotingHstockHofHtheHinvesteeHisHheldHbyHtheHinvestor.
CurrentHfinancialHreportingHstandardsHallowHfirmsHtoHelectHtoHuseHfairHvalueHforHanyHnewHin
vesHtmentHinHequityHsharesHincludingHthoseHwhereHtheHequityHmethodHwouldHotherwiseHap
ply.HHoHwever,HtheHoption,HonceHtaken,HisHirrevocable.HTheHinvestorHrecognizesHbothHinves
teeHdivideHndsHandHchangesHinHfairHvalueHoverHtimeHasHincome.
AccountingHforHanHinvestment:HtheHequityHmethod
TheHinvestorHadjustsHtheHinvestmentHaccountHtoHreflectHallHchangesHinHtheHequityHofHt
heHiHnvesteeHcompany.
TheHinvestorHaccruesHinvesteeHincomeHwhenHitHisHreportedHinHtheHinvestee‘sHfinan
cialHstatements.
DividendsHdeclaredHbyHtheHinvesteeHcreateHaHreductionHinHtheHcarryingHamountHofHthe
HInHvestmentHaccount.HThisHbookHassumesHallHinvesteeHdividendsHareHdeclaredHandH
paidHinHtheHsameHreportingHperiod.
SpecialHaccountingHproceduresHusedHinHtheHapplicationHofHtheHequityHmethod
ReportingHaHchangeHtoHtheHequityHmethodHwhenHtheHabilityHtoHsignificantlyHinfluenceH
anHiHnvesteeHisHachievedHthroughHaHseriesHofHacquisitions.
InitialHpurchase(s)HwillHbeHaccountedHforHbyHmeansHofHtheHfairHvalueHmethodH(o
rHatHcost)HuntilHtheHabilityHtoHsignificantlyHinfluenceHisHattained.
WhenHtheHabilityHtoHexerciseHsignificantHinfluenceHoccursHfollowingHaHseriesHofHsto
ckHpurchases,HtheHinvestorHappliesHtheHequityHmethodHprospectively.HTheHtotalHfai
rHvaluHeHatHtheHdateHsignificantHinfluenceHisHattainedHisHcomparedHtoHtheHinvestee‘
sHbookHvaHlueHtoHdetermineHfutureHexcessHfairHvalueHamortizations.
InvesteeHincomeHfromHotherHthanHcontinuingHoperations
TheHinvestorHrecognizesHitsHshareHofHinvesteeHreportedHotherHcomprehensiveH
incomeH(OCI)HthroughHtheHinvestmentHaccountHandHtheHinvestor‘sHownHOCI.
IncomeHitemsHsuchHasHdiscontinuedHoperationsHthatHareHreportedHseparatelyHbyHth
eHiHnvesteeHshouldHbeHshownHinHtheHsameHmannerHbyHtheHinvestor.HTheHmaterialit
yHofHthHeseHotherHinvesteeHincomeHelementsH(asHitHaffectsHtheHinvestor)HcontinuesH
toHbeHaHcriHterionHforHseparateHdisclosure.
InvesteeHlosses
LossesHreportedHbyHtheHinvesteeHcreateHcorrespondingHlossesHforHtheHinvestor.
AHpermanentHdeclineHinHtheHfairHvalueHofHanHinvestee‘sHstockHshouldHbeHrecogniz
edHiHmmediatelyHbyHtheHinvestorHasHanHimpairmentHloss.
InvesteeHlossesHcanHpossiblyHreduceHtheHcarryingHvalueHofHtheHinvestmentHaccou
ntHtHoHaHzeroHbalance.HAtHthatHpoint,HtheHequityHmethodHceasesHtoHbeHapplicableHa
ndHtheHfHair-valueHmethodHisHsubsequentlyHused.
ReportingHtheHsaleHofHanHequityHinvestment
TheHinvestorHappliesHtheHequityHmethodHuntilHtheHdisposalHdateHtoHestablishHaHpro
perHbookHvalue.
FollowingHtheHsale,HtheHequityHmethodHcontinuesHtoHbeHappropriateHifHenoughHshar
esHareHstillHheldHtoHmaintainHtheHinvestor‘sHabilityHtoHsignificantlyHinfluenceHtheHinve
stee.HIHfHthatHabilityHhasHbeenHlost,HtheHfair-valueHmethodHisHsubsequentlyHused.
2-24
©YMcGrawYHillYLLC.YAllYrightsYreserved.YNoYreproductionYorYdistributionYwithoutYtheYpriorYwrittenYconsentYofYMcGrawYHillYLL
, SolutionHManualHForHAllHChapters
IV. ExcessHinvestmentHcostHoverHbookHvalueHacquired
TheHpriceHanHinvestorHpaysHforHequityHsecuritiesHoftenHdiffersHsignificantlyHfromHt
heHiHnvestee‘sHunderlyingHbookHvalueHprimarilyHbecauseHtheHhistoricalHcostHbase
dHaccoHuntingHmodelHdoesHnotHkeepHtrackHofHchangesHinHaHfirm‘sHfairHvalue.
PaymentsHmadeHinHexcessHofHunderlyingHbookHvalueHcanHsometimesHbeHidentifiedH
withHspecificHinvesteeHaccountsHsuchHasHinventoryHorHequipment.
AnHextraHacquisitionHpriceHcanHalsoHbeHassignedHtoHanticipatedHbenefitsHthatHareHexpectH
edHtoHbeHderivedHfromHtheHinvestment.HInHaccounting,HtheseHamountsHareHpresumedHtoHr
eflectHanHintangibleHassetHreferredHtoHasHgoodwill.HGoodwillHisHcalculatedHasHanyHexcesH
sHpaymentHthatHisHnotHattributableHtoHspecificHidentifiableHassetsHandHliabilitiesHofHtheHinvH
estee.HBecauseHgoodwillHisHanHindefinite-livedHasset,HitHisHnotHamortized.
V.DeferralHofHintra-entityHgrossHprofitHinHinventory
TheHinvestor‘sHshareHofHintra-
entityHprofitsHinHendingHinventoryHareHnotHrecognizedHuntilHtheHtransferredHgoodsHareH
eithHerHconsumedHorHuntilHtheyHareHresoldHtoHunrelatedHparties.
DownstreamHsalesHofHinventory
―Downstream‖HrefersHtoHtransfersHmadeHbyHtheHinvestorHtoHtheHinvestee.
Intra-
entityHgrossHprofitsHfromHsalesHareHinitiallyHdeferredHunderHtheHequityHmethodHa
ndHtHhenHrecognizedHasHincomeHatHtheHtimeHofHtheHinventory‘sHeventualHdisposa
l.
TheHamountHofHgrossHprofitHtoHbeHdeferredHisHtheHinvestor‘sHownershipHpercentageH
multipliedHbyHtheHmarkupHonHtheHmerchandiseHremainingHatHtheHendHofHtheHyear.
UpstreamHsalesHofHinventory
―Upstream‖HrefersHtoHtransfersHmadeHbyHtheHinvesteeHtoHtheHinvestor.
UnderHtheHequityHmethod,HtheHdeferralHprocessHforHintra-
entityHgrossHprofitsHisHidenticalHforHupstreamHandHdownstreamHtransfers.HTheHproc
edHuresHareHseparatelyHidentifiedHinHChapterHOneHbecauseHtheHhandlingHdoesHvar
yHwithHinHtheHconsolidationHprocess.
AnswersHtoHDiscussionHQuestions
TheHtextbookHincludesHdiscussionHquestionsHtoHstimulateHstudentHthoughtHandHdiscussion.HTheseHqHu
estionsHareHalsoHdesignedHtoHallowHstudentsHtoHconsiderHrelevantHissuesHthatHmightHotherwiseHbeHoHv
erlooked.HSomeHofHtheseHquestionsHmayHbeHaddressedHbyHtheHinstructorHinHclassHtoHmotivateHstudeHn
tHdiscussion.HStudentsHshouldHbeHencouragedHtoHbeginHbyHdefiningHtheHissue(s)HinHeachHcase.HNext
authoritativeHaccountingHliteratureH(FASBHASC)HorHotherHrelevantHliteratureHcanHbeHconsultedHas
HaHpreliminaryHstepHinHarrivingHatHlogicalHactions.HFrequently,HtheHFASBHAccountingHStandardsHC
odificHationHwillHprovideHtheHnecessaryHsupport.
Unfortunately,HinHaccounting,HdefinitiveHresolutionsHtoHfinancialHreportingHquestionsHareHnotHalway
sHaHvailable.HStudentsHoftenHseemHtoHbelieveHthatHallHaccountingHissuesHhaveHbeenHresolvedHinHth
eHpastHsoHthatHaccountingHeducationHisHonlyHaHmatterHofHlearningHtoHapplyHhistoricallyHprescribedH
procedureHs.HHowever,HinHactualHpractice,HtheHonlyHrealHanswerHisHoftenHtheHoneHthatHprovidesHth
eHfairestHrepresHentationHofHtheHfirm‘sHtransactions.HIfHanHauthoritativeHsolutionHisHnotHavailable,Hst
udentsHshouldHbeHdHirectedHtoHlistHallHofHtheHissuesHinvolvedHandHtheHconsequencesHofHpossibleHal
ternativeHactions.HTheHvariousHfactorsHpresentedHcanHbeHweighedHtoHproduceHaHviableHsolution.
TheHdiscussionHquestionsHareHdesignedHtoHhelpHstudentsHdevelopHresearchHandHcriticalHthinkingH
skillHsHinHaddressingHissuesHthatHgoHbeyondHtheHpurelyHmechanicalHelementsHofHaccounting.
2-3
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