Fundamentals of Advanced Accounting 8th Edition Hoyle Solutions Manual

Download the full version and explore a variety of test banks
or solution manuals at https://testbankdeal.com
Fundamentals of Advanced Accounting 8th Edition
Hoyle Solutions Manual
_____ Tap the link below to start your download _____
https://testbankdeal.com/product/fundamentals-of-advanced-
accounting-8th-edition-hoyle-solutions-manual/
Find test banks or solution manuals at testbankdeal.com today!

We believe these products will be a great fit for you. Click
the link to download now, or visit testbankdeal.com
to discover even more!
Fundamentals of Advanced Accounting 8th Edition Hoyle Test
Bank
accounting-8th-edition-hoyle-test-bank/
Fundamentals of Advanced Accounting 4th Edition Hoyle
Solutions Manual
Fundamentals of Advanced Accounting 5th Edition Hoyle
Solutions Manual
Police Field Operations Theory Meets Practice 2nd Edition
Birzer Test Bank
https://testbankdeal.com/product/police-field-operations-theory-meets-
practice-2nd-edition-birzer-test-bank/

Electric Circuits 10th Edition Nilsson Solutions Manual
https://testbankdeal.com/product/electric-circuits-10th-edition-
nilsson-solutions-manual/
P O W E R Learning Strategies for Success in College and
Life 6th Edition Feldman Solutions Manual
https://testbankdeal.com/product/p-o-w-e-r-learning-strategies-for-
success-in-college-and-life-6th-edition-feldman-solutions-manual/
Understanding Politics Ideas Institutions and Issues 11th
Edition Magstadt Test Bank
https://testbankdeal.com/product/understanding-politics-ideas-
institutions-and-issues-11th-edition-magstadt-test-bank/
Counseling Assessment and Evaluation 1st Edition Watson
Test Bank
https://testbankdeal.com/product/counseling-assessment-and-
evaluation-1st-edition-watson-test-bank/
Ebersole and Hess Toward Healthy Aging 9th Edition Touhy
Test Bank
https://testbankdeal.com/product/ebersole-and-hess-toward-healthy-
aging-9th-edition-touhy-test-bank/

Principles of Macroeconomics 11th Edition Case Test Bank
https://testbankdeal.com/product/principles-of-macroeconomics-11th-
edition-case-test-bank/

Chapter 06 – Variable Interest Entities, Intra-Entity Debt, Consolidated Cash Flows, and Other Issues
6-1
Copyright © 2021 McGraw-Hill Education. All rights reserved.
No reproduction or distribution without the prior written consent of McGraw-Hill Education.
CHAPTER 6
VARIABLE INTEREST ENTITIES, INTRA-ENTITY DEBT,
CONSOLIDATED CASH FLOWS, AND OTHER ISSUES
Chapter Outline
I. Variable interest entities (VIEs)
A. VIEs typically take the form of a trust, partnership, joint venture, or corporation. In most
cases a sponsoring firm creates these entities to engage in a limited and well-defined set of
business activities. For example, a business may create a VIE to finance the acquisition of
a large asset. The VIE purchases the asset using debt and equity financing, and then leases
the asset back to the sponsoring firm. If their activities are strictly limited and the asset is
pledged as collateral, VIEs are often viewed by lenders as less risky than their sponsoring
firms. As a result, such arrangements can allow financing at lower interest rates than would
otherwise be available to the sponsor.
B. Control of VIEs, by design, sometimes does not rest with its equity holders. Instead, control
is exercised through contractual arrangements with the sponsoring firm who becomes the
"primary beneficiary" of the VIE. These contracts can take the form of leases, loans,
participation rights, guarantees, or other residual interests. Through contracting, the primary
beneficiary bears a majority of the risks and receives a majority of the rewards of the entity,
often without owning any voting shares.
C. An entity whose control rests with a primary beneficiary is addressed by FASB ASC subtopic
810-10 Variable Interest Entities. The following characteristics indicate a controlling financial
interest in a variable interest entity.
1. The power to direct the activities that most significantly impact the VIE’s economic
performance
2. The obligation to absorb losses of the VIE that could potentially be significant to the VIE
or the right to receive benefits from the VIE that could potentially be significant to the
VIE.
The primary beneficiary bears the risks and receives the rewards of a variable interest entity
and is considered to have a controlling financial interest.
D. If a reporting entity has a controlling financial interest in a variable interest entity, it should
include the assets, liabilities, and results of the activities of the variable interest entity its
consolidated financial statements.
E. In reporting periods subsequent to when a primary beneficiary gains control over a VIE,
consolidation procedures are similar to that for a voting interest entity. A notable exception
in consolidation procedures occurs in accounting for the allocation of consolidated net
income across the controlling and noncontrolling interests. Because variable, rather than
voting, interests determine profit allocation, the underlying agreements between the primary
beneficiary, the VIE, and other related parties must be carefully reviewed to determine net
income distribution.
II. Intra-entity debt transactions
A. No special difficulty is created when one member of a business combination loans money
to another. The resulting receivable/payable accounts as well as the interest income
expense balances are identical and can be directly offset in the consolidation process.

6-2
B. The acquisition of an affiliate's debt instrument from an outside party does require special
handling so that consolidated financial statements can be produced.
1. Because the acquisition price will usually differ from the carrying amount of the liability,
a gain or loss has been created by an effective retirement which is not recorded within
the individual records of either company.
2. Because of the amortization of any associated discounts and/or premiums, the interest
income reported by the buyer will not equal the interest expense of the debtor.
C. In the year of acquisition, the consolidation process eliminates intra-entity accounts (the
liability, the receivable, interest income, and interest expense) while the gain or loss (which
produced all of the discrepancies because of the initial difference) is recognized.
1. Although several alternatives exist, this textbook assigns all income effects resulting
from the retirement to the parent company, the party ultimately responsible for the
decision to reacquire the debt.
2. Any noncontrolling interest is, therefore, not affected by the adjustments utilized to
consolidate intra-entity debt.
D. After the year of effective retirement, all intra-entity accounts must be eliminated again in
each subsequent consolidation. However, when the parent uses the equity method, the
parent’s Investment in Subsidiary account is adjusted in consolidation rather than a gain or
loss account. If the parent employs an accounting method other than the equity method,
then the parent’s Retained Earnings are adjusted for the prior years’ income net effects of
the effective gain/loss on retirement.
1. The change in retained earnings is needed because a gain or loss was created in a prior
year by the effective retirement of the debt, but only interest income and interest expense
were recognized by the two parties.
2. The adjustment to retained earnings at any point in time is the original gain or loss
adjusted for the subsequent amortization of discounts or premiums.
III. Subsidiary preferred stock
A. Subsidiary preferred shares not owned by the parent are a part of noncontrolling interest.
B. The fair value of any subsidiary preferred shares not acquired by the parent is added to the
consideration transferred along with the fair value of the noncontrolling interest in common
shares to compute the acquisition-date fair value of the subsidiary.
IV. Consolidated statement of cash flows
A. Statement is produced from consolidated balance sheet and income statement and not from
the separate cash flow statements of the component companies.
B. Consolidated net income is the starting point for the cash flow from operating section—
including both the parent and noncontrolling interest share.
C. Intra-entity cash transfers are omitted from this statement because they do not occur with
an outside unrelated party.
D. Dividends paid by the subsidiary to the noncontrolling interest are reported as a financing
activity.
V. Consolidated earnings per share
A. This computation normally follows the pattern described in intermediate accounting
textbooks. For basic EPS, consolidated net income is divided by the weighted-average
number of parent shares outstanding. If convertibles (such as bonds or warrants) exist for

Chapter 06 – Variable Interest Entities, Intra-Entity Debt, Consolidated Cash Flows, and Other Issues – 14e
6-3
the parent shares, their weight must be included in computing diluted EPS but only if
earnings per share is reduced.
1. The subsidiary's diluted earnings per share are computed first to arrive at (1) an earnings
figure and (2) a shares figure.
2. The portion of the shares figure belonging to the parent is computed. That percentage
of the subsidiary's diluted earnings is then added to the parent's net income in order to
complete the earnings per share computation.
VI. Subsidiary stock transactions
A. If the subsidiary issues new shares of stock or reacquires its own shares as treasury stock,
a change is created in the book value underlying the parent's investment account. The
increase or decrease should be reflected by the parent as an adjustment to this balance.
B. The book value of the subsidiary that corresponds to the parent's ownership is measured
before and after the transaction with any alteration recorded directly to the investment
account. The parent's additional paid-in capital (or retained earnings) account is normally
adjusted although the recognition of a gain or loss is an alternate accounting treatment.
C. Treasury stock acquired by the subsidiary may also necessitate a similar adjustment to the
parent's investment account. In addition, any subsidiary treasury stock is eliminated within
the consolidation process.
Answer to Discussion Question: Who Lost this $300,000?
This case is designed to give life to a theoretical accounting issue: If a subsidiary's debt is retired,
should the resulting gain or loss be assigned to the parent or to the subsidiary? The case illustrates
that there is no clear-cut solution. This lack of an absolute answer makes financial accounting both
intriguing and frustrating.
The assignment decision is only necessary in the presence of a noncontrolling interest. Regardless
of the ownership level all intra-entity balances are eliminated on the worksheet with a gain or loss
recognized. Not until the consolidated net income is allocated across the controlling interest and
the noncontrolling interest does the assignment decision have an impact.
We assume that financial and operating decisions are made in the best interest of the business
entity as a whole. This debt would not have been retired unless corporate officials believed that
Penston/Swansan would benefit from the decision. Thus, an argument can be made against any
assignment to either separate party.
Students should choose and justify one method. Discussion often centers on the following:
▪ Parent company officials made the actual choice that created the book loss. Therefore,
assigning the $300,000 to the subsidiary directs the impact of their decision to the wrong party.
In effect, the subsidiary had nothing to do with this transaction (as indicated in the case) so that
its share of consolidated net income should not be affected by the $300,000 loss.
▪ The debt was that of the subsidiary. Because the subsidiary's debt is being retired, all of the
$300,000 should be attributed to that party. Financial records measure the results of
transactions and the retirement simply culminates an earlier transaction made by the subsidiary.
The parent is doing no more than acting as an agent for the subsidiary (as indicated in the case).
If the subsidiary had acquired its own debt, for example, no question as to the assignment would

6-4
have existed. Thus, changing that assignment simply because the parent agreed to be the
acquirer is not justified.
▪ Both parties were involved in the transaction so that some allocation of the loss is required. If,
at the time of repurchase, a discount existed within the subsidiary's accounts, this figure would
have been amortized to interest expense (if the debt had not been retired). Thus, the $300,000
loss was accepted now in place of the later amortization. This reasoning then assigns this
portion of the loss to the subsidiary. Because the parent agreed to pay more than face value,
that remaining portion is assigned to the buyer.
Answers to Questions
1. A variable interest entity (VIE) is a business structure that is designed to accomplish a specific
purpose. A VIE can take the form of a trust, partnership, joint venture, or corporation although
typically it has neither independent management nor employees. The entity is frequently
sponsored by another firm to achieve favorable financing rates.
2. Variable interests are contractual, ownership, or other pecuniary interests in an entity that
change with changes in the entity's net asset value. Variable interests will absorb portions of a
variable interest entity's losses or receive portions of the entity's expected residual returns.
Variable interests typically are accompanied by contractual arrangements that provide decision
making power to the owner of the variable interests. Examples of variable interests include debt
guarantees, lease residual value guarantees, participation rights, and other financial interests.
3. The following characteristics are indicative of an enterprise qualifying as a primary beneficiary
with a controlling financial interest in a VIE.
▪ The power, through voting rights or similar rights, to direct the activities of an entity that most
significantly impact the entity’s economic performance.
▪ The obligation to absorb losses of the VIE that could potentially be significant to the VIE or
the right to receive benefits from the VIE that could potentially be significant to the VIE.
4. Because the bonds were purchased from an outside party, the acquisition price is likely to differ
from the carrying amount of the debt in the subsidiary's records. This difference creates
accounting challenges in handling the intra-entity transaction. From a consolidated perspective,
the debt is retired; a gain or loss is reported with no further interest being recorded. In reality,
each company continues to maintain these bonds on their individual financial records. Also,
because discounts and/or premiums are likely to be present, these account balances as well as
the interest income/expense will change from period to period because of amortization. For
reporting purposes, all individual accounts must be eliminated with the gain or loss being
reported so that the events are shown from the vantage point of the consolidated entity.
5. If the bonds are acquired directly from the affiliate company, all reciprocal accounts will be equal
in amount. The debt and the receivable will be in agreement so that no gain or loss is created.
Interest income and interest expense should also reflect identical amounts. Therefore, the
consolidation process for this type of intra-entity debt requires no more than the offsetting of the
various reciprocal balances.
6. The gain or loss to be reported is the difference between the price paid and the carrying amount
of the debt on the date of acquisition. For consolidation purposes, this gain or loss should be
recognized immediately on the date of acquisition.

6-5
7. Because the bonds are still legally outstanding, they will continue to be found on both sets of
financial records. Thus, each account (Bonds Payable, Investment in Bonds, Interest Expense,
and Interest Income) must be eliminated within the consolidation process. Any gain or loss on
the effective retirement as well as later effects on interest caused by amortization are also
included to arrive at an adjustment to the beginning retained earnings (or the Investment
account if the equity method is used) of the parent company.
8. The original gain is never recognized within the financial records of either company. Thus, within
the consolidation process for the year of acquisition, the gain is directly recorded whereas (for
each subsequent year) it is entered as an adjustment to beginning retained earnings (or the
Investment account if the equity method is used). In addition, because the carrying amount of
the debt and the investment are not in agreement, the interest expense and interest income
balances being recorded by the two companies will differ each year because of the amortization
process. This amortization effectively reduces the difference between the individual retained
earnings balances and the total that is appropriate for the consolidated entity. Consequently, a
smaller change is needed each period to arrive at the balance to be reported. For this reason,
the annual adjustment to beginning retained earnings (or the Investment account if the equity
method is used) gradually decreases over the life of the bond.
9. No set rule exists for assigning the income effects from intra-entity debt transactions although
several different theories exist and include: (1) assignment of the entire amount to the debtor,
(2) assignment of the entire amount to the buyer, and (3) allocation of the gain or loss between
the two parties in some manner. This textbook attributes the entire income effect (the $45,000
gain in this case) to the parent company. Assignment to the parent is justified because that party
is ultimately responsible for the decision to retire the debt from the public market. The answer
to the discussion question included in this chapter analyzes this question in more detail.
10. Subsidiary outstanding preferred shares are part of the noncontrolling interest and are included
in the consolidated financial statements at acquisition-date fair value and subsequently adjusted
for their share of subsidiary income and dividends.
11. The consolidated cash flow statement is developed from consolidated balance sheet and
income statement figures. Thus, the cash flows generated by operating, investing, and financing
activities are identified only after the consolidation of these other statements.
12. The noncontrolling interest share of the subsidiary’s net income is a component of consolidated
net income. Consolidated net income then is adjusted for noncash and other items to arrive at
consolidated cash flows from operations. Any dividends paid by the subsidiary to these outside
owners are listed as a financing activity because an actual cash outflow occurs.
13. An alternative to the normal diluted earnings per share calculation is required whenever the
subsidiary has dilutive convertible securities such as bonds or warrants. In this case, the
potential impact of the conversion of subsidiary shares must be factored into the overall diluted
earnings per share computation.
14. Basic Earnings per Share. The existence of subsidiary convertible securities does not affect
basic EPS. The parent’s basic earnings per share is computed by dividing the parent’s share
of consolidated net income by the weighted average number of parent shares outstanding.

6-6
Diluted Earnings per Share. The subsidiary's diluted earnings per share is computed by
including both convertible items. The portion of the parent's controlled shares to the total shares
used in this calculation is then determined. Only this percentage (of the income figure used in
the subsidiary's computation) is added to the parent's income in arriving at the parent company’s
diluted earnings per share.
15. Several reasons could exist for a subsidiary to issue new shares of stock to outside parties.
First, additional financing is brought into the company by any such sale. Also, stock issuance
may be used to entice new individuals to join the organization. Additional management
personnel, as an example, might be attracted to the company in this manner. The company
could also be forced to sell shares because of government regulation. Many countries require
some degree of local ownership as a prerequisite for operating within that country.
16. Because the new stock was issued at a price above the subsidiary’s assigned consolidation
value, the overall valuation for Metcalf's stock has been increased. Consequently, the
Washburn's investment is increased to reflect this change. To measure the effect, the value of
Washburn's investment is calculated both before and after the new issue. Because the
increment is the result of a stock transaction, an increase is made to additional paid-in capital.
Although the subsidiary's shares (both new and old) are eliminated in the consolidation process,
the increase in the parent's APIC (or gain or loss) carries into the consolidated figures. Also, the
noncontrolling interest percentage of the subsidiary increases.
17. A stock dividend does not alter the assigned consolidated subsidiary value and, thus, creates
no effect on Washburn's investment account or on the consolidated figures. Hence, no entry is
recorded by the parent company in connection with the subsidiary's stock dividend.

6-7
Answers to Problems
1. C
2. B Vintage Company net income ...................................................... $100,000
Less: Prairie Company 15% ownership share ............................ (15,000)
Less: Prairie Company 40% participating rights ........................ (40,000)
Net income attributable to noncontrolling interest .................... $45,000
3. B
4. D
5. A
6. D
7. D Cash flow from operations:
Net income ................................................................. $45,000
Depreciation............................................................... 10,000
Trademark amortization............................................ 15,000
Increase in accounts receivable............................... (17,000)
Increase in inventory................................................. (40,000)
Increase in accounts payable................................... 12,000 (20,000)
Cash flow from operations ....................................... $25,000
8. C Cash flow from financing activities:
Dividends to parent’s interest .................................. ($12,000)
Dividends to noncontrolling interest (20%  $5,000) (1,000)
Reduction in long-term notes payable .................... (25,000)
Cash flow from financing activities ......................... ($38,000)
9. C
10.C Post-issue subsidiary valuation ($800,000 + $250,000) $1,050,000
Arcola’s new ownership percentage (40,000 ÷ 50,000) 80%
Arcola’s share of post-issue subsidiary valuation $ 840,000
Arcola’s pre-issue equity balance 800,000
Increase to Arcola’s investment account $ 40,000
11.C Dane’s income from own operations....................... $185,000
Carlton’s income ...................................................... 105,000
Eliminate intra-entity interest income...................... (19,000)
Eliminate intra-entity interest expense.................... 18,000
Recognize retirement gain on debt ($209,000 – $196,000) 13,000
Consolidated net income .................................... $302,000

6-8
12.B Mattoon’s share of consolidated net income.......... $465,000
Number of Mattoon common shares outstanding.. 100,000
Mattoon’s EPS = ($465,000 ÷ 100,000 shares)......... $4.65
13.B Aaron net income ..................................................... $430,000
Less intra-entity dividends (initial value method) .. (8,050) $421,950
Zeese reported net income ...................................... 164,000
Gain on extinguishment of debt ($60,200 – $56,000) 4,200
Eliminate interest expense on "retired" debt
($60,200 × 10%) .................................................... 6,020
Eliminate interest income on "retired" debt
($56,000 × 12%) .................................................... (6,720)
Consolidated net income ......................................... $589,450
14.B 30% of $147,000 subsidiary net income; the intra-entity debt effects are
attributed solely to the parent company. 30% x $147,000 = $44,100
15.A For 2021, the adjustment to beginning retained earnings should recognize
the gain on the retirement of the debt, the elimination of the 2020 interest
expense, and the elimination of the 2020 interest income.
Gain on Retirement of Bond:
Original carrying amount .................................................... $10,600,000
2017–2019 amortization ($600,000 ÷ 20 yrs. × 3 yrs.) ....... (90,000)
Carrying amount, January 1, 2021 ..................................... $10,510,000
Percentage of bonds retired ............................................... 40%
Carrying amount of retired bonds ...................................... $ 4,204,000
Cash received ($4,000,000 × 96.6%) ................................... 3,864,000
Gain on retirement of bonds ............................................... $ 340,000
Interest Expense on Intra-Entity Debt—2020
Cash interest expense (9% × $4,000,000) .......................... $360,000
Premium amortization ($30,000 per year total × 40%
retired portion of bonds) ............................................... (12,000)
Interest expense on intra-entity debt ................................. $348,000
Interest Income on Intra-Entity Debt—2020
Cash interest income (9% × $4,000,000) ............................ $360,000
Discount amortization (.034 × $4,000,000 ÷ 17 years) ....... 8,000
Interest income on intra-entity debt ................................... $368,000
Adjustment to 1/1/21 Retained Earnings
Recognition of 2020 gain on extinguishment of debt (above)..... $340,000
Elimination of 2020 intra-entity interest expense (above)............ 348,000
Elimination of 2020 intra-entity interest income (above) ............. (368,000)
Increase in retained earnings, 1/1/21 ....................................... $320,000

6-9
16.D Consideration transferred for preferred stock ............................. $ 424,000
Consideration transferred for common stock .............................. 3,960,000
Noncontrolling interest fair value for preferred ........................... 1,696,000
Noncontrolling interest fair value for common ............................ 440,000
Acquisition-date fair value ............................................................. 6,520,000
Acquisition-date identified net asset fair value ........................... (6,000,000)
Goodwill .......................................................................................... $ 520,000
17.B Consideration transferred for preferred stock ............................. $214,000
Consideration transferred for common stock .............................. 1,253,280
Noncontrolling interest fair value for common stock .................. 835,520
Acquisition-date fair value ............................................................. $2,302,800
Acquisition-date book value .......................................................... (2,174,000)
Excess fair over book value ........................................................... $ 128,800
to building .................................................................................. 63,600
to goodwill .................................................................................. $ 65,200
18.B Parent’s reported sales ............................................ $480,000
Subsidiary's reported sales ..................................... 264,000
Less: intra-entity transfers ...................................... (57,600)
Sales to outsiders ............................................... $686,400
Less: increase in receivables................................... (37,300)
Cash generated by sales .................................... $649,100
19.B Subsidiary’s unamortized fair value prior to new share issue
(12,000 × $49) ....................................................... $588,000
Parent's ownership ................................................... 100%
Unamortized subsidiary fair value ......................... $588,000
Subsidiary unamortized fair value after issuing new
shares (above value plus 3,000 shares at $50 each) $738,000
Parent's ownership 12,000 ÷ 15,000 shares) .......... 80%
Unamortized subsidiary fair value after stock issue $590,400
Investment in Veritable increases by $2,400 ($590,400 less $588,000).
20.A Because the parent acquired 80 percent of the new shares, its proportional
ownership remains the same. Because the amount the parent pays will
necessarily equal 80 percent of the increase in the subsidiary's book value,
no separate adjustment by the parent is required.

6-10
21.C Adjusted acquisition-date sub. fair value at 1/1/21
Consideration transferred ........................................................ $592,000
Noncontrolling interest acquisition-date fair value ................ 148,000
Increase in Stamford book value .............................................. 80,000
Stock issue proceeds ................................................................ 150,000
Subsidiary valuation basis 1/1/21 .................................................. 970,000
New parent ownership (32,000 shs. ÷ 50,000 shs.) ...................... 64%
Parent’s post-stock issue ownership balance.............................. $620,800
Parent's investment account ($592,000 + [80% × 80,000]) .......... 656,000
Required adjustment —decrease ............................................ $(35,200)
22.D Adjusted acquisition-date fair value ($820,000 – $192,000) ........ $628,000
New parent ownership (32,000 shs. ÷ 32,000 shs.) ...................... 100%
Fair value equivalency of parent's ownership ........................ $628,000
Parent's investment account ($592,000 + [80% × 80,000]) .......... 656,000
Required adjustment—decrease .............................................. $ (28,000)
23. (10 minutes) (Qualifications of a VIE and consolidation requirements)
Apparel Media is a variable interest entity (VIE). The equity holders (the two
outside investors) lack
▪ The power, through voting rights or similar rights, to direct the activities
of a legal entity that most significantly impact the entity’s economic
performance.
▪ The obligation to absorb the expected losses of the VIE.
▪ The right to receive the expected residual returns of the legal entity.
Consolidation of a VIE is required if a firm has a variable interest that gives the
firm a controlling financial interest in the VIE evidenced by
▪ The power to direct the activities of a VIE that most significantly impact
the VIE’s economic performance
▪ The obligation to absorb losses of the VIE that could potentially be
significant to the VIE or the right to receive benefits from the VIE that
could potentially be significant to the VIE.
Because (1) Paige has the right to receive the 95% of the revenues generated by
the VIE, and (2) Paige’s losses are not limited by contract, Paige should
consolidate Apparel Media.
24. (30 minutes) (VIE Qualifications for Consolidation)
a. The purpose of consolidated financial statements is to present the financial
position and results of operations of a group of businesses as if they were a
single entity. They are designed to provide information useful for making
business and economic decisions—especially assessing amounts, timing,

6-11
and uncertainty of prospective cash flows. Consolidated statements also
provide more complete information about the resources, obligations, risks,
and opportunities of an enterprise than separate statements.
b. An entity qualifies as a VIE and is subject to consolidation if either of the
following conditions exist.
1. The total equity at risk is not sufficient to permit the entity to finance its
activities without additional subordinated financial support from other
parties.
2. The equity investors in the VIE lack any one of the following three
characteristics of a controlling financial interest.
• The power, through voting rights or similar rights, to direct the
activities of a legal entity that most significantly impact the entity’s
economic performance.
• The obligation to absorb the expected losses of the VIE.
• The right to receive the expected residual returns of the legal entity.
Consolidation of a variable interest entity is required if a firm has a variable
interest that gives the firm
▪ The power, through voting rights or similar rights, to direct the activities
of an entity that most significantly impact the entity’s economic
performance.
▪ The obligation to absorb a majority of the entity's expected losses if they
occur and/or the right to receive a majority of the entity's expected
residual returns if they occur
c. Risks of the construction project that has TecPC has effectively shifted to
the owners of the VIE:
At the end of the 1st five-year lease term, if the parent opts to sell the facility,
and the proceeds are insufficient to repay the VIE investors, TecPC may be
required to pay up to 85% of the project's cost--a potential 15% risk.
Risks that remain with TecPC
▪ Guarantees of return to VIE investors at market rate, if facility does not
perform as expected TecPC is still obligated to pay market rates.
▪ If lease is not renewed, TecPC must either purchase the facility or sell it
on behalf of the VIE with a guarantee of Investors' (debt and equity)
balances representing a risk of decline in market value of asset
▪ Debt guarantees

6-12
24. (continued)
d. TecPC possesses the following characteristics of a primary beneficiary:
▪ Direct decision-making ability (end of five-year lease term).
▪ The obligation to absorb the expected losses of the VIE.
▪ The right to receive the expected residual returns of the legal entity.
25. (15 minutes) (Consolidation of variable interest entity.)
a. Implied valuation and excess allocation for Valery:
Noncontrolling interest fair value $60,000
Consideration transferred by Petra 20,000
Total Valery fair value 80,000
Fair value of Valery’s net identifiable assets 105,000
Excess net asset value fair value (bargain purchase) $25,000
Petra recognizes the $25,000 excess net asset fair value as a bargain purchase and
records all of Valery’s assets and liabilities at their individual fair values.
Cash $ 20,000
Marketing software 165,000
Computer equipment 40,000
Long-term debt (120,000)
Noncontrolling interest (60,000)
Gain on bargain purchase (25,000)
b. Implied valuation and excess allocation for Valery
Noncontrolling interest fair value $60,000
Consideration transferred by Petra 20,000
Total Valery fair value 80,000
Fair value of Valery’s net identifiable assets 55,000
Goodwill $25,000
When the fair value of a VIE (that is a business) is greater than assessed
asset values, all identifiable assets and liabilities are reported at fair values
(unless a previously held interest) and the difference is treated as goodwill.
Cash $ 20,000
Marketing software 115,000
Computer equipment 40,000
Goodwill (excess business fair value) 25,000
Long-term debt (120,000)
Noncontrolling interest (60,000)

6-13
26. (40 minutes) (Acquisition-date consolidation worksheet for a parent and a
variable interest entity)
Access Net
Consolidation Entries
Consolidated
IT Connect NCI Balances
Cash 61,000 41,000 102,000
Investment in NetConnect 1,000,000 S 65,600
A 934,400
Capitalized software 981,000 156,000 1,137,000
Computer equipment 1,066,000 56,000 1,122,000
Communications
equipment 916,000 336,000 1,252,000
Research and
development asset A1,960,000 1,960,000
Patent 191,000 191,000
Goodwill A 376,000 376,000
Total assets 4,024,000 780,000 6,140,000
Long-term debt (941,000) (616,000) (1,557,000)
Common stock-Access IT (2,660,000) (2,660,000)
Common stock-
NetConnect (41,000) S 41,000
Retained earnings (423,000) (123,000) S 123,000 (423,000)
Noncontrolling interest S 98,400
A 1,401,600 (1,500,000) (1,500,000)
Total liabilities and equity (4,024,000) (780,000) 2,500,000 2,500,000 (6,140,000)
Consideration transferred $1,000,000
Noncontrolling interest fair value 1,500,000
Acquisition-date fair value $2,500,000
Book value (164,000)
Excess fair over book value $2,336,000
Research and development asset 1,960,000
Goodwill $ 376,000

6-14
27. (35 minutes) (Consolidation of a primary beneficiary and variable interest entity one
year after control is obtained)
Pikes and Venti Companies
Consolidation Worksheet
Year Ended December 31, 2021
Pikes Venti Consolidation Entries NCI Consolidated
Revenues (792,000) (216,000) (1,008,000)
Management fee (54,000) -0- (F) 54,000 -0-
Cost of good sold 621,000 89,000 710,000
Other operating expenses 76,000 64,000 (F) 54,000 86,000
Interest income (21,000) -0- (IE) 21,000 -0-
Interest expense -0- 39,000 (IE) 21,000 18,000
Net Income (170,000) (24,000)
Consolidated net income (194,000)
to noncontrolling interest (24,000) 24,000
to Pikes (170,000)
Retained earnings 1/1 (1,380,000) (40,000) (S) 40,000 (1,380,000)
Net income (170,000) (24,000) (170,000)
Dividends declared 75,000 -0- 75,000
Retained earnings 12/31 (1,475,000) (64,000) (1,475,000)
Current assets 360,000 73,000 433,000
Loan receivable from Venti 300,000 -0- (P) 300,000 -0-
Equipment (net) 895,000 527,000 1,422,000
Trademark -0- 125,000 (A) 20,000 145,000
Total assets 1,555,000 725,000 2,000,000
Current liabilities (30,000) (92,000) (122,000)
Loan payable to Pikes -0- (300,000) (P) 300,000 -0-
Other long-term debt -0- (254,000) (254,000)
Common stock (50,000) (15,000) (S) 15,000 (50,000)
(S) 55,000
Noncontrolling interest -0- -0- (A) 20,000 (75,000) (99,000)
Retained earnings 12/31 (1,475,000) (64,000) (1,475,000)
Total liabilities and equity (1,555,000) (725,000) 450,000 450,000 (2,000,000)
Fair value of Venti on January 1, 2021 (date Pikes obtains control)................ $75,000
Venti book value—January 1, 2021 ($15,000 common stock + $40,000 RE) ..... 55,000
Excess fair over book value ............................................................................ 20,000
To trademark (indefinite life)......................................................................... 20,000
-0-

6-15
28. (25 Minutes) (Consolidation entry for three consecutive years to report effects
of intra-entity bond acquisition. Straight-line method used. Parent uses equity
method)
a. Carrying Amount of Bonds Payable, January 1, 2019
Carrying amount, January 1, 2017 ........................................ $1,050,000
Amortization—2017–2018 ($5,000 per year
[$50,000 premium ÷ 10 years] for two years) .................. 10,000
Carrying amount of bonds payable, January 1, 2019 .......... $1,040,000
Carrying amount of 40% of bonds payable
(intra-entity portion), January 1, 2019 ............................. $416,000
Gain on Retirement of Bonds, January 1, 2019
Purchase price ($400,000 × 96%) .......................................... $384,000
Carrying amount of liability (computed above) ................... 416,000
Gain on retirement of bonds ................................................. $ 32,000
Carrying Amount of Bonds Payable, December 31, 2019
Carrying amount, January 1, 2019 (computed above) ........ $1,040,000
Amortization for 2019.............................................................. 5,000
Carrying amount of bonds payable, December 31, 2019..... $1,035,000
Carrying amount 40% bonds payable (intra-entity portion),
December 31, 2019 ............................................................ $414,000
Carrying Amount of Investment in Bonds, December 31, 2019
Investment carrying amount, Jan. 1, 2019 (purchase price) $384,000
Amortization for 2019 ($16,000 discount ÷ 8-yr. rem. life) .. 2,000
Carrying amount of investment, December 31, 2019 .......... $386,000
Intra-entity Interest Balances for 2019
Interest expense:
Cash payment ($400,000 × 9%) ........................................ $36,000
Amortization of premium for 2019 ($5,000 per year
× 40% intra-entity portion) .......................................... 2,000
Intra-entity interest expense ............................................ $34,000
Interest income:
Cash collection ($400,000 × 9%) ...................................... $36,000
Amortization of discount for 2019 (above) ..................... 2,000
Intra-entity interest income .............................................. $38,000

6-16
28.(continued)
CONSOLIDATION ENTRY B (2019)
Bonds Payable .......................................................... 400,000
Premium on Bonds Payable ..................................... 14,000
Interest Income .......................................................... 38,000
Investment in Bonds.............................................. 386,000
Interest Expense ................................................... 34,000
Gain on Retirement of Bonds .............................. 32,000
(To eliminate accounts stemming from intra-entity bonds [balances
computed above] and to recognize gain on the effective retirement of this
debt.)
b. In 2020, because straight-line amortization is used, the interest accounts
remain unchanged at $38,000 and $34,000. However, the premium
associated with the bond payable as well as the discount on the
investment are affected by the $2,000 per year amortization. In addition,
the gain now has to be removed from the Investment in Hamilton account.
Concurrently, the two interest balances recorded by the individual
companies in 2020 are removed from the Investment in Hamilton because
they occurred after the intra-entity retirement. Gain of $32,000 plus
$34,000 expense removal less $38,000 income elimination yields a
$28,000 credit to the investment account.
CONSOLIDATION ENTRY *B (2020)
Bonds Payable .............................................................. 400,000
Premium on Bonds Payable (net of $2,000 amortization) 12,000
Interest Income .............................................................. 38,000
Investment in Bonds (net of $2,000 amortization) ...... 388,000
Interest Expense ....................................................... 34,000
Investment in Hamilton ............................................. 28,000
(To remove intra-entity bond accounts that remain on the individual
records of both companies. Both debt and bond investment balances
have been adjusted for amortizations. Credit to Investment in Hamilton
brings the totals reported by the individual companies [interest income
and expense] to the balance of the original gain.)
c. As with part b, new premium and discount balances must be determined
and then removed. The adjustment made to the Investment in Hamilton
takes into account that another year of interest expense ($34,000) and
income ($38,000) have been incorporated into the investment account
through application of the equity method.

6-17
28.(continued)
CONSOLIDATION ENTRY *B (2021)
Bonds Payable .................................................... 400,000
Premium on Bonds Payable ............................... 10,000
Interest Income .................................................... 38,000
Investment in Bonds ...................................... 390,000
Interest Expense ............................................ 34,000
Investment in Hamilton .................................. 24,000
(To remove intra-entity bond accounts that remain on the individual
records of both companies. Both debt and bond investment balances
have been adjusted for amortizations. Credit to Investment in Hamilton
brings the totals reported by the individual companies to the balance of
the original gain.)
29. (12 Minutes) (Determine consolidated income statement accounts after
acquisition of intra-entity bonds.)
▪ Interest Expense To Be Eliminated = $84,000 × 11% = $9,240
▪ Interest Income To Be Eliminated = $108,000 × 8% = $8,640
▪ Loss To Be Recognized = $108,000 – $84,000 = $24,000
CONSOLIDATED TOTALS
▪ Revenues and Interest Income = $1,051,360 (add the two book values and
eliminate interest income on intra-entity bond)
▪ Operating and Interest Expense = $751,760 (add the two book values and
eliminate interest expense on intra-entity bond)
▪ Other Gains and Losses = $152,000 (add the two book values)
▪ Loss on Retirement of Debt = $24,000 (computed above)
▪ Net Income = $427,600 (consolidated revenues, interest income, and
gains less consolidated operating and interest expense and losses)

6-18
30. (30 Minutes) (Consolidation entry for two years to report effects of intra-
entity bond acquisition. Effective rate method applied.)
a. Loss on Repurchase of Bond
Cost of acquisition ......................................... $201,000
Carrying amount ($760,000 × 1/5) ................. 152,000
Loss on repurchase ....................................... $ 49,000
Interest Balances for 2019
Interest income:
$201,000 × 7% ............................................... $14,070
Interest expense:
$152,000 (carrying amount [above]) × 12%. $18,240
Investment in Bonds Balance, December 31, 2019
Original cost, 1/1/19........................................ $201,000
Amortization of premium:
Cash interest ($180,000 × 9%) ................. $16,200
Effective interest income (above) ........... 14,070 2,130
Investment in Bonds, 12/31/19....................... $198,870
Bonds Payable Balance, December 31, 2019
Carrying amount, 1/1/19 (above) .................. $152,000
Amortization of discount:
Cash interest ($180,000 × 9%) ................. $16,200
Effective interest expense (above) .......... 18,240 2,040
Bonds payable, 12/31/19 ................................ $154,040
Entry B—12/31/19
Bonds Payable ............................................... 154,040
Interest Income .............................................. 14,070
Loss on Retirement of Debt .......................... 49,000
Investment in Bonds ................................ 198,870
Interest Expense ....................................... 18,240
(To eliminate intra-entity debt holdings and recognize loss on
retirement.)
b. Interest Balances for 2020 followed by 2021
Interest income: $198,870 (Investment in Bonds
balance for the year) × 7% (rounded)....................... $13,921
Interest expense: $154,040 (liability balance
for the year) × 12% (rounded)................................... $18,485

6-19
30. (continued)
Carrying amount, January 1, 2020 (part a) ............. $198,870
Cash interest ($180,000 × 9%) ............................ $16,200
Effective interest income (above) ...................... 13,921 2,279
Investment in Bonds balance, December 31, 2020. $196,591
Carrying amount, January 1, 2020 (part a) ............. $154,040
Cash interest ($180,000 × 9%) ............................ $16,200
Effective interest expense (above) .................... 18,485 2,285
Bonds payable balance, December 31, 2020 .......... $156,325
Interest Balances for 2021
Interest income: $196,591 (Investment in Bonds.... $13,761
balance for the year [above]) × 7% (rounded)
Interest expense: $156,325 (liability balance
for the year [above]) × 12% ................................ $18,759
Carrying amount, January 1, 2021 (above) ............. $196,591
Cash interest ($180,000 × 9%) ............................ $16,200
Effective interest income (above) ...................... 13,761 2,439
Investment in Bonds balance, December 31, 2021. $194,152
Carrying amount, January 1, 2021 (above) ............. $156,325
Cash interest ($180,000 × 9%) ............................ $16,200
Effective interest expense (above) .................... 18,759 2,559
Bonds payable balance, December 31, 2021 .......... $158,884

6-20
30. (continued)
Adjustment Needed to Investment in Zack for Bond Retirement Loss:
Loss on retirement of debt (part a) ............................................ $49,000
Amounts recognized in previous years:
Interest income: 2019 $(14,070)
2020 (13,921) $(27,991)
Interest expense: 2019 $18,240
2020 18,485 36,725 8,734
Adjustment needed to Investment
in Zack to arrive at consolidated total .................................. $40,266
Entry *B—12/31/21
Bonds Payable .......................................................... 158,884
Interest Income ......................................................... 13,761
Investment in Zack ................................................... 40,266
Investment in Bonds ........................................... 194,152
Interest Expense ................................................. 18,759
(To eliminate intra-entity bond holdings and adjust the Investment in Zack
for the unrecognized loss on retirement. Amounts computed above.)
Many of the above amounts can also be determined using amortization tables as
shown below.
Investment in Bonds Amortization Table:
Interest Carrying
Cash Revenue Amortization Amount
201,000
2019 16,200 14,070 2,130 198,870
2020 16,200 13,921 2,279 196,591
2021 16,200 13,761 2,439 194,152
Intra-Entity Portion of Bonds Payable Amortization Table:
Interest Carrying
Cash Expense Amortization Amount
152,000
2019 16,200 18,240 (2,040) 154,040
2020 16,200 18,485 (2,285) 156,325
2021 16,200 18,759 (2,559) 158,884

6-21
31. (35 Minutes) (Consolidation procedures and balances related to intra-entity
bonds. Both straight-line and effective interest rate methods are used.)
a. Acquisition price of bonds ............................................................... $283,550
Carrying amount of bonds payable (see Schedule 1)
($443,498 × 50%) .......................................................................... (221,749)
Loss on retirement ............................................................................ $ 61,801
SCHEDULE 1—Carrying Amount of Bonds Payable
Beg. Year Effective
Carrying Interest Cash Year-End
Date Amount (12% Rate) Interest Amortization Carrying Amount
2018 $435,765 $52,292 $50,000 $2,292 $438,056
2019 $438,056 $52,567 $50,000 $2,567 $440,623
2020 $440,623 $52,875 $50,000 $2,875 $443,498
b. Investment in Southport Bonds
Purchase price—12/31/20 ......................................... $283,550
Cash interest ($250,000 × 10%) ............................... $25,000
Effective interest income ($283,550 × 8%) .............. 22,684
Amortization ........................................................ 2,316
Investment in Southport bonds, 12/31/21 ............... $281,234
Bonds Payable
Carrying amount—12/31/20 (computed above) ...... $443,498
Cash interest ($500,000 × 10%) ............................... $50,000
Effective interest expense ($443,498 × 12%) .......... 53,220
Amortization ........................................................ 3,220
Bonds payable, 12/31/21 .......................................... $446,718
Although not required in the problem, the consolidation entry as of 12/31/21 is
as follows. The reduction in retained earnings represents the loss only; no intra-
entity interest was recognized in the previous year because the purchase was
made on December 31.
Entry *B (2021)
Bonds Payable ($446,718 × 50%) ............................ 223,359
Interest Income ......................................................... 22,684
Retained Earnings, 1/1/21 ........................................ 61,801
Interest Expense ($53,220 × 50%) ...................... 26,610
Investment in Southport Bonds ......................... 281,234

6-22
31. (continued)
c. Loss on Retirement of Bond
Because Southport uses the straight-line method of amortization, the loss on
retirement must be computed again.
Original issue price—1/1/18......................................................... $435,765
Discount amortization (2018–2020) ([$64,237 ÷ 13] × 3 years).. 14,824
Carrying amount 12/31/20 ........................................................... $450,589
Intra-entity portion of bonds payable (50%) .............................. $225,294
Purchase price ............................................................................. 283,550
Loss on retirement ...................................................................... $ 58,256
Investment in Southport Bonds
Purchase price—12/31/20 ........................................................... $283,550
Premium amortization (2021) ($33,550 ÷ 10) ............................. (3,355)
Carrying amount 12/31/21 ...................................................... $280,195
Interest Income
Cash interest ($250,000 × 10%) .................................................. $25,000
Premium amortization (above) ................................................... (3,355)
Intra-entity interest income—2021 ........................................ $21,645
Bonds Payable
Original issue price 1/1/18 ........................................................... $435,765
Discount amortization (2018–2021) [($64,237 ÷ 13) × 4 years] . 19,765
Carrying amount 12/31/21 ...................................................... $455,530
Opus ownership ..................................................................... 50%
Intra-entity portion—12/31/21 .......................................... $227,765
Interest Expense
Cash interest ($250,000 × 10%) .................................................. $25,000
Discount amortization ([$64,237 ÷ 13] × 1/2) ............................. 2,471
Intra-entity interest expense—2021 ...................................... $27,471
The reduction in retained earnings represents the loss only; no intra-entity
interest was recognized in the previous year because the purchase was made
on December 31.
Entry *B (2021)
Bonds Payable .......................................................... 227,765
Interest Income ......................................................... 21,645
Retained Earnings, 1/1/21 ....................................... 58,256
Interest Expense ................................................ 27,471
Investment in Southport Bonds ......................... 280,195

6-23
32.(8 Minutes) (Determine goodwill for an acquisition in which subsidiary has both
common stock and preferred stock)
Consideration transferred for common stock $1,600,000
Consideration transferred for preferred stock 630,000
Noncontrolling interest in common stock 400,000
Noncontrolling interest in preferred stock 270,000
Hepner’s acquisition-date fair value $2,900,000
Book value of Hepner 2,500,000
Goodwill $ 400,000
33. (30 Minutes) (Consolidation entries with subsidiary cumulative preferred stock.)
a. The preferred shares are entitled to the specified cumulative dividend. Thus, the
noncontrolling interest's share of the subsidiary's income equals $160,000 or 8
percent of the preferred stock's par value.
b. Acquisition-Date Fair Value Allocation and Amortization
Consideration transferred ........................................................... $14,040,000
Noncontrolling interest fair value (preferred shares)................ 2,000,000
Acquisition-date fair value of Smith ........................................... 16,040,000
Book value ................................................................................... (16,000,000)
Franchises .................................................................................... $ 40,000
Period of amortization ................................................................. 40 years
Annual amortization .................................................................... $1,000
Investment in Smith Account, December 31, 2021
Consideration transferred, January 1, 2021 .............................. $14,040,000
Equity accrual (income remaining for common stock
after preferred stock dividend) ............................................. 290,000
Dividends collected ($360,000 total less $160,000
paid to preferred shareholders) ............................................ (200,000)
Amortization for 2021 (above) .................................................... (1,000)
Investment in Smith account, December 31, 2021..................... $14,129,000
c. Consolidation Entries
Entry S and A combined
Preferred Stock (Smith) ........................................... 2,000,000
Common Stock (Smith) ............................................ 4,000,000
Retained Earnings, 1/1/21 (Smith) ........................... 10,000,000
Franchises ................................................................. 40,000
Investment in Smith........................................ 14,040,000
Noncontrolling Interest in Smith, Inc ............ 2,000,000
(To eliminate subsidiary stockholders’ equity, record excess fair values, and
record outside ownership of subsidiary's preferred stock at fair value)

6-24
33. c. (continued)
Entry I Equity Income of Subsidiary .............................. 289,000
Investment in Smith ....................................... 289,000
(To eliminate equity accrual made in connection with common stock
[$290,000] along with excess amortization recorded by parent.)
Entry D Investment in Smith ............................................ 200,000
Dividends Declared ........................................ 200,000
(To remove intra-entity dividend declarations made on common stock [see
computation above].)
Entry E Amortization Expense ......................................... 1,000
Franchises ...................................................... 1,000
(To recognize amortization of franchises for current year [see computation
above].)
34. (30 Minutes) (Prepare consolidation entries for an acquisition where subsidiary
has outstanding preferred stock)
Consideration transferred for common stock $ 7,368,000
Consideration transferred for preferred stock 3,100,000
Noncontrolling interest in common stock 4,912,000
Acquisition-date fair value for Young $15,380,000
Young’s book value 15,000,000
Excess fair over book value 380,000
to building (5-year life) $200,000
to equipment (10-year life) (100,000) 100,000
to brand name (20-year life) $ 280,000
CONSOLIDATION ENTRIES
Entries S and A combined
Preferred Stock (Young) .......................................... 1,000,000
Common Stock (Young) ........................................... 4,000,000
Retained Earnings (Young) ...................................... 10,000,000
Brand Name ............................................................... 280,000
Building .................................................................... 200,000
Equipment ............................................................ 100,000
Investment in Young's preferred stock (100%) . 3,100,000
Investment in Young's common stock (60%) ... 7,368,000
Noncontrolling Interest ....................................... 4,912,000
(To eliminate subsidiary stockholders’ equity, record excess acquisition-date
fair values, and record outside ownership of subsidiary's preferred stock at
acquisition-date fair value)

6-25
34. (continued)
Entry I1
Dividend Income ....................................................... 80,000
Dividends Declared ............................................. 80,000
(To offset intra-entity preferred stock dividends recognized as income by
parent—$1,000,000 par value × 8% dividend rate.)
Entry I2
Dividend Income ....................................................... 192,000
Dividends Declared ............................................. 192,000
(To eliminate intra-entity dividends [60% of $320,000] on common stock.
Because the $320,000 in dividends remaining after Entry I1 equals exactly 8
percent of the common stock par value, the participation factor does not
affect the distribution.)
Entry E
Amortization Expense .............................................. 44,000
Equipment ................................................................. 10,000
Building ................................................................ 40,000
Brand Name ......................................................... 14,000
(To record current year amortization of specific accounts
recognized within acquisition price of preferred stock.)

6-26
35.(15 Minutes) (The effect that various events have on a consolidated statement of
cash flows.)
▪ Sale of building. The $44,000 in cash received from the sale is listed as a
cash inflow within the company's investing activities. If the company is using
the direct method in presenting cash flows from operating activities, the
$12,000 gain is not presented. However, if the indirect method is used, the
gain (a positive) must be eliminated from net income by a subtraction.
▪ Intra-entity inventory transfers. Because these transactions do not occur
with any parties outside of the business combination, they are not reflected
in the consolidated statement of cash flows.
▪ Dividend paid by the subsidiary. The $27,000 payment to the parent is
eliminated in consolidated statements and is not a cash outflow from the
consolidated entity. The remaining $3,000 payment to the noncontrolling
interest is reported as a cash outflow from a financing activity.
▪ Amortization of intangible asset. This $16,000 noncash expense appears in
the consolidated income statement. If the combined companies are using the
direct method to present cash flows from operating activities, this expense
not presented. If the indirect method is used, the expense must be removed
by adding it back to consolidated net income.
▪ Decrease in accounts payable. Cash payments have reduced this liability
balance during the period. If the direct method is used to present cash flows
from operating activities, the change is added to cost of goods sold as one
step in deriving the cash paid during the period for inventory (an outflow). If
the indirect method is applied, the decrease is subtracted from net income in
arriving at the net cash generated from operating activities during the period.

6-27
36.(20 Minutes) (Determine cash flows from operations for a consolidated entity.)
DIRECT METHOD
Cash revenues (add book values, eliminate intra-entity transfers,
and add decrease in accounts receivable) ................................... $648,000
Cash inventory purchases (add book values, eliminate
intra-entity transfers, defer intra-entity gains, add increase in
inventory, and add decrease in accounts payable)...................... (370,000)
Depreciation and amortization (omit as noncash expenses)............ -0-
Other expenses (add book values) ..................................................... (40,000)
Gain on sale of equipment (omit because this is an investing activity) -0-
Equity in earnings of Knight (intra-entity so not included) .............. -0-
Net cash flow from operating activities ................................... $238,000
INDIRECT METHOD
Consolidated net income (computed below) ..................................... $216,000
Adjustments:
Depreciation and amortization ................................................. 61,000
Gain on sale of equipment ....................................................... (30,000)
Increase in inventory ................................................................ (11,000)
Decrease in accounts receivable ............................................. 8,000
Decrease in accounts payable ................................................. (6,000)
Net cash flow from operating activities ............................. $238,000
Consolidated Net Income = $206,200 + 9,800 = $216,000 or computation below:
Revenues (add book values and subtract intra-entity transfers) $640,000
Cost of goods sold (add book values, less intra-entity
transfers adjusted for deferral and subsequent
recognition of intra-entity gain) ............................................... (353,000)
Depreciation and amortization (add book values plus
amortization from excess fair value allocations) ................... (61,000)
Other expenses (add book value) ................................................. (40,000)
Gain on sale of equipment ............................................................. 30,000
Consolidated net income .......................................................... $216,000

6-28
37. (30 Minutes) (Compute basic and diluted earnings per share for a parent and its
100 percent owned subsidiary, both with convertible bonds.)
Basic EPS—Porter Company:
Porter's reported net income ................................... $150,000
Street's reported net income ................................... 130,000
Amortization expense .............................................. (10,000)
Consolidated net income (all to Porter) ............. $270,000
Porter shares outstanding .................................. 60,000
Basic earnings per share ($270,000 ÷ 60,000) ........ $4.50
Diluted EPS—Street Company
Street earnings after amortization ........................... $120,000
Shares outstanding .................................................. 30,000
Basic earnings per share (120,000 ÷ 30,000) .......... $4.00
Street's earnings assuming conversion of its bonds
($120,000 + $24,000 interest saved net of tax) .. $144,000
Street's shares assuming conversion of its bonds
(30,000 + 10,000) .................................................. 40,000
Diluted earnings per share (144,000 ÷ 40,000) ....... $3.60
Because diluted earnings per share is less than basic earnings per share, the
convertible bonds are dilutive and should be included.
Porter’s share of Street’s diluted earnings:
Total shares assuming Street bond conversion .... 40,000
Shares owned by Porter ........................................... 30,000
Porter's ownership percentage (30,000 ÷ 40,000) .. 75%
Street's earnings for diluted EPS (above) .............. $144,000
Porter's ownership percentage ................................ 75%
Earnings attributed to Porter company .................. $108,000
Porter’s earnings and shares for diluted EPS:
Porter's separate net income .................................. $150,000
Street’s income applicable to Porter (above).......... 108,000
Interest saved (net of tax) on assumed
conversion of Porter's bonds ............................. 32,000
Diluted earnings to Porter......................................... $290,000
Porter shares outstanding ....................................... 60,000
Additional shares from assumed bond conversion 8,000
Diluted shares ........................................................... 68,000
Consolidated income statement EPS amounts for Porter Company:
Basic earnings per share (above) ............................ $4.50
Diluted earnings per share ($290,000 ÷ 68,000) ..... $4.26

6-29
38. (15 Minutes) (Compute diluted EPS. Subsidiary has stock warrants outstanding)
Figures For Sonston's Diluted EPS
Net Income .................................................................... $200,000
Shares outstanding ....................................................... 40,000
Assumed conversion of stock warrants ...................... 10,000
Repurchase of treasury stock with proceeds of stock
Warrants (10,000 × $10 = $100,000 ÷ $20) .................... (5,000) 5,000
Shares for diluted earnings per share computation.... 45,000
Shares controlled by Primus: 40,000 + (20% of 5,000) = 41,000
Percentage of total held by Primus: 41,000 ÷ 45,000 = 91% (rounded)
Income to be included in parent’s diluted EPS = $200,000 × 91% = $182,000
Parent’s Diluted Earnings Per Share:
Net income – Primus ..................................................... $600,000
Net income included from Sonston .............................. 182,000
Earnings for diluted EPS .......................................... $782,000
Outstanding shares of Primus ................................ 100,000
PARENT’S DILUTED EARNINGS PER SHARE = $782,000 ÷ 100,000 = $7.82
39. (15 Minutes) (Compute diluted EPS. Subsidiary has convertible bonds.)
Figures for Echo's diluted EPS:
Net income ....................................................................................... $290,000
Interest (net of tax) saved from assumed conversion ................... 63,200
Earnings for diluted earnings per share ......................................... $353,200
Shares outstanding 80,000
Assumed conversion of bonds 20,000
Subsidiary shares for parent’s share of diluted earnings 100,000
Shares controlled by Bravo = 80,000 ÷ 100,000 = 80%
Income to be included in parent’s diluted EPS = $353,200 × 80% = $282,560
Earnings for parent’s diluted earnings per share:
Net income— Bravo .............................................................. $480,000
Dividends to Bravo 's preferred stock ................................. (15,000)
Net Income included from Echo (above) ............................. 282,560
Earnings for diluted EPS.................................................. $747,560
PARENT’S DILUTED EARNINGS PER SHARE = $747,560 ÷ 80,000 = $9.35 (rounded)

6-30
40. (35 Minutes) (Compute basic and diluted earnings per share for parent company.
Subsidiary has stock warrants and convertible bonds.)
Basic EPS—Parent Company (Burks):
Reported net income (separate)—Burks ..................... $150,000
Foreman net income: 80% × ($120,000 – $40,000 amort.) 64,000
Preferred stock dividends (8,000 × $4) ......................... (32,000)
Burks’ earnings applicable to basic EPS ..................... $182,000
Burks' outstanding shares ...................................... 65,000
Basic earnings per share ($182,000 ÷ 65,000) ............. $ 2.80
Diluted EPS—Parent Company (Burks)*
Subsidiary income for Burks’ EPS:
Net income after amortization ($120,000 – 40,000) ...... $80,000
Shares outstanding ....................................................... 40,000
Assumed conversion of warrants ................................ 20,000
Assumed acquisition of treasury stock with
proceeds of conversion [(20,000 × $15) ÷ $20] ...... (15,000)
Shares applicable to diluted EPS ............................ 45,000
Shares controlled by parent:
(40,000 × 80%)............................................................ 32,000
Income used in diluted EPS computation .............. $80,000
Portion owned by parent (32,000 ÷ 45,000) ............ 71.11%
Subsidiary income applicable to parent—diluted EPS $56,889
Earnings applicable to Burks’ diluted EPS:
Reported net income (separate)—Burks ...................... $150,000
Burks’ share of Foreman income (above) ................... 56,889
Because of assumed conversion, preferred stock
dividends would not be paid ................................... -0-
Earnings applicable to diluted EPS .............................. $206,889
Burks' outstanding shares ............................................ 65,000
Assumed conversion of preferred stock (8,000 × 4) ... 32,000
Shares applicable to diluted EPS ................................. 97,000
Diluted earnings per share ($206,889 ÷ 97,000)(rounded) = $ 2.13
*Foreman’s convertible bonds are antidilutive and thus excluded from the diluted
EPS calculations.

Other documents randomly have
different content

Lamiis tribus, 272.
Lamps, 70, 258.
Lancashire, 82 n. 6, 171, 179, 205, 267.
Lance-heads, 82.
Landing in Britain, place of Caesar’s, 309-12, 315-6,
595-665.
Land’s End, 135;
Pytheas lands near, 221;
skull found near, 396;
Ictis located off, by Müllenhoff, 502 n. 8.
Lang, A., 49 n. 7, 52 n. 6, 53 n. 4, 198 note, 206 n. 4,
463-4.
Langbank, 463-4.
Language, 48;
neolithic, 67, 405-6.
See Brythonic, Celtic, Goidelic, Philology.
Lapps, 102.
Largie, 109 n. 2.
‘Late Celtic’ Period, 5-6;
art, 9, 84 n. 2, 236-46, 372.
See Early Iron Age.
La Tène, cauldrons, 158 n. 2;
culture named after settlement of, 236, 241;
swords, 238;
brooches, 240.
Lathe, 159 n. 1.
See Potter’s wheel.
Latin, known by some of the Britons, 266, 368, 372.
Laugerie Basse, 35, 382.
Lea, 60, 347, 702.
Lead, in bronze, 140, 739;
leaden celts, 148-9, 252;
lead mines, 252.
Leaf-shaped arrow-heads, 80-1;
swords, 146;
spears, 148.

Ledbury, 396-7.
Lee way, 326, 582, 613, 625, 634, 656, 659, 740.
Legions, 301;
10th, 313, 316;
7th, 313, 321, 337, 343, 636, 677.
Lepidianus tumultus, 719-21, 725.
Lewes, 7, 256.
See Mount Caburn.
Lewin, T., 533, 535-6, 542, 546-9, 563, 587, 607-11,
622-38, 648, 649 n. 1, 650-9, 701-3.
Lewis, 207-8, 262.
Liane, 306, 314, 324, 331, 571, 594;
ancient depth and extension of estuary, 586-7.
Life, duration of in Neolithic Age, 91;
in Bronze Age, 152-3.
Ligurian coast, 61;
language, 296 n. 4, 408.
Limen, 535, 538-43, 545.
Lincolnshire, 35, 82 n. 6, 130, 194 n. 3;
round barrows in, 187.
Lions, 30, 48.
Littlebourne, 680, 682.
Little Stour, 660, 679-82, 685.
Littleton Drew, 105.
Livy, 285.
Llandebie, 395.
Llandudno, 139.
Llangorse, 263 n. 2.
Loch Etive, 107.
Lockyer, Sir N., 216-7, 472-6, 480-2.
Loire, tin shipped from Ictis to, 221, 223, 246, 500-1,
505-9;
ships built in, and lent by tribes near, for war with Veneti,
302-4;
Strabo on passage from, to Britain, 577.
Lomea, 526.

Londinium, 255;
name of, does not appear on any British coin, 359;
was it pre-Roman? 703-5.
London, palaeolithic implements found in, 39;
topography of, in Caesar’s time, 255;
road from, to Durovernum, 336;
Cassivellaunus’s stronghold wrongly located at, 701-2.
Long, G., 567-9, 571, 577-8, 590-3, 603 note.
Long Barrow race, ethnology of, 64-7, 393-407, 455-6,
458.
Long barrows, 101-3, 173;
orientation of, 103;
construction, 103-5.
See Chambered barrows.
Long Hole Cave, 37.
Lord’s Down, 188-9.
Lorthet, 99.
Los Murciélagos, 100.
Lossio Veda, 415.
Lough Crew, 206.
Lourdes, 57.
Lower Greensand, 26-7.
Lozenge pattern, 197, 198, n. 3, 239.
Lozère, 35.
Lubbock, Sir J., 4.
See Avebury, Lord.
Lucan, 279, 285 n. 8, 355, 628, 630.
Lucretius, 50, 124 n. 5.
Lug, 277.
Lugotorix, 348.
Lugudunum, 277, 283.
Lunettes, 165.
Lutcombe Castle, 134.
Lyall, Sir A., 10, 204 note, 275, 277
Lydd, 535, 536 n. 1, 538, 543.
Lydney, 280-1.

Lyell, Sir C., 4, 45, 223.
Lympne, 309-10, 532-3, 538-45, 547, 551-2;
theory that Caesar landed at, 622-37, 642, 650-2, 656.
Mabinogion, 274.
Mabon.
See Maponus.
Macbain, A., 420-3.
MacEnery, J., 4.
Magi, 297 n. 3.
Magic, 47-8, 57-8, 92 n. 6, 117;
connexion of, with religion, 58, 461-2.
Maiden Bower Camp, 97.
Maiden Castle, 134, 137.
Mainland, 226.
Malden, H. E., 539 n. 7, 556, 607, 615 n. 1, 619-20, 638-
9, 646-7.
Malvern Hills, 68.
Mammoth, 4, 21, 30, 35, 40;
teeth of, found in situ in peat, 386 n. 5.
Man, Isle of, 180, 205.
See Monapia.
Mandubracius, 327, 333, 339, 361, 700.
Manonvrier, 9, 379 n. 2.
Μάντεις, 297 note.
Mantes, 29.
Maoris, 77.
Maponus, 280.
Mark Antony, 365.
Marliano, R. de, 2.
Marlborough bucket, 237, 246.
Marne, cremation in, in Neolithic Age, 110 n. 1;
‘owl-heads’, 200;
Caesar builds ships on river (?), 327;
skeletons of Early Iron Age, 436;

chariot-burials, 676.
Marriage, 128, 269-70.
Marrow, 46-7.
Mars, 275, 277-9, 282-3.
Marshes (?) near Caesar’s landing-place, 628, 630-2,
653-4.
Martial, 368.
Martin Down Camp, 156-7, 467.
Mas d’Azil, 48, 49 n. 7, 61;
painted pebbles, 99, 263, 464.
Massilia, British trade with, 172, 218, 499-501, 507-8;
Pytheas calculates latitude of, 219;
date of foundation, 511;
Massilians introduce coins into Gaul, 248;
import tin from Spain (?), 495-6.
Matlock, 252.
Matriarchy, 52 n. 6, 94-5, 351;
among the Picts, 414-7.
Mediterranean, 200, 218, 231, 307, 326;
‘Mediterranean race,’ 65, 398, 400-1, 406-7, 455.
Mêdûm, 125.
Medway, 25;
crossed by Caesar, 344.
Megalithic monuments, 5-6, 177.
See Menhirs, Stone circles, Stone rows.
Menapii, 302, 314, 324.
Mendip Hills, 252.
Menhirs, 114, 208, 285.
Mentone, 34, 49, 204, 382.
Merchants, of Gaul, 1, 307-8, 310, 331.
Mercury, 274, 277-8, 282-3, 285.
Merionethshire, 171, 184, 205, 242.
‘Mesolithic’ implements, 59, 387, 388 n. 1.
Mesopotamia, 122, 125 n. 1.
Metallurgy, 121, 139-40.
Metempsychosis, 293, 295-6.

Mexico, 125.
Mice, bones of, in urn, 203.
Mictis, 500.
See Ictis.
Midacritus, 485, 514.
Middlesex, 36, 235.
Midlands, 14, 16.
Midnight sun, 225-6.
Midsummer festivals, 280, 475.
Military history, 10, 352, 595-6.
Millfield, 85.
Minerva, 275, 280-2.
Mining, of flint, 69-71;
of copper, 139 n. 1, 502-3 n. 8;
of iron, 231, 251;
of lead, 252.
See Tin.
Mirrors, 239-40, 264.
Mistletoe, 298.
Mitchell, Sir A., 6, 203 n. 4, 248.
Moel Tryfaen, 17 note.
Mold, 162.
Mole, bones of, in urn, 203.
Mollis (B. G., v, 9, § 1), 628-30.
Mommsen, Th., 355-6, 715 n. 6.
Monapia, 450-1.
Monarchy.
See Kings.
Mongoloid tribes, 51.
Monmouthshire, 194 n. 3, 360.
Montelius, O., 9, 123 n. 1, 402, 432, 476 n. 1.
Monzie, 153.
Moon, worshipped, 116, 282;
influence of, on tides, announced by Pytheas and Posidonius,
219, 319, 336;

year computed by revolutions of, in ancient calendars, 296,
475, 707;
full moon of Aug. 55 B.C., 319, 600-3;
exact time of, 610, 665-6;
new moon of Jan. 2, 45 B.C., 722 n. 2;
Caesar sailed for Britain in 54 B.C. about day of new moon,
728-9.
Moravia, skeletons found at, 34, 381;
interment practised in, in Palaeolithic Age, 49.
Morayshire, 165.
Morbihan, 110 n. 1, 205, 302-4.
Moredun, 435 n. 1.
Morini, 133, 302;
Caesar’s campaign against, 305-6;
envoys from, proffer submission, 133, 312;
Cotta, 314;
attack Romans, punished, 324, 593-4;
shortest passage to Britain from their country, 554, 571, 596,
619;
Caesar sails from their country, 558-63;
Strabo on passage to Britain from, 555-6, 577-9;
portus Morinorum Britannicus, 589;
induced by Britons to mediate with Caesar (?), 672.
Mortars, 79.
Mortillet, G. de, 38, 39 n. 1.
Mortimer, J. R., 5, 101 n. 3, 157 n. 2, 174 n. 1, 177 n. 6,
181 n. 1, 186 n. 4, 195 n. 5, 197 n. 1, 393 n. 4, 425
n. 4.
Moulds, 148-9.
‘Mound dwellings,’ 390-2.
Mountains worshipped, 272.
Mount Caburn, 256.
Mountfield, 165.
Mousterian implements, 40-1, 384.
Moustier, Le, cave of, 40.
Muir n’ Icht, 572.

Müller, S., 9, 402.
Mullers, 79, 90.
Munro, R., 107 n. 2, 263 n. 2, 463-5.
Muskham, 396-7.
Mycenaeans, 204.
Myres, J. L., 9, 378 n. 6, 402.
Napoleon III, 602 n. 5, 603.
Narbo, trade with, 499-500, 508.
Naval camp, constructed by Caesar in 54 B.C., 338, 686-
7;
attacked by Kentish kings, 346-8, 661;
Caesar’s unexplained visit to, 348-9, 669, 672, 731-3;
site of, 673-4.
Neanderthal skull, 33-4, 380-2;
race, 385, 397, 455.
Necklaces, 47;
amber, 163, 167, 169;
jet, 167.
Needles, of bone, 37, 42.
Needles, The, 32.
Neolithic Age, 11, 62-120;
early immigrants of British, 62-3;
British civilization originated in, 63-4;
later invaders of, 64-7;
ethnology of inhabitants, 64-7, 393-409;
settlements, 67-9;
implements, 71-83;
specialization of industries, 83;
implements used after introduction of bronze, 132.
See, Dwellings, Agriculture, Clothing,
Cookery, Hill-forts, Religion, Transition, &c.
Nervii, 330, 342, 352, 734.
Nether Swell, 105.
New Grange, 170, 200, 478.

Nicholson, E. W. B., 410-1, 419-23, 449-53.
Nights, shortness of, 225-6, 351.
Nile, 30.
Nilsson, S., 102, 479.
Nobles, 271.
Nodons, 281.
Noreia, 231.
Norfolk, 18-20, 36, 85, 162, 194 n. 3, 253, 263 n. 2, 347.
Normanton, 162.
North Bavant, 97.
North Downs, 26, 662.
North Foreland, 309, 575-7, 657 n. 3.
North Sea, 14.
Northamptonshire, 36, 110 n. 11, 137 n. 4, 238, 251,
361.
Northumberland, 8, 133 n. 1, 154, 161, 167, 171, 179,
194 n. 3, 205, 208, 359;
hut-circles, 154-5;
cremation, 184;
drinking-cups, 192.
Norway, 126.
See Scandinavia.
Novantae, 447-8.
Nundinae, 713 ff.
Oban, 62, 394.
Oestrymnides, 491.
Offa’s Dyke, 260 n. 1.
Oldbury, 46, 134.
Old Sarum, 259 n. 3, 481.
Ons, 483 n. 3, 487-8, 497.
Ordovices, 233 note.
Orientation of long barrows and chambered cairns, 103;
of skeletons in round barrows, 188;
of stone circles, 210-1, 481-2;

of Stonehenge, 216-7, 472-6, 480-1;
of skeletons in interments of Early Iron Age, 287-8, 739.
See Hurlers.
Orkney, 87 n. 1, 97 n. 2, 109, 198, 208;
chambered cairns in, 102, 408;
holed stones, 115 n. 8;
amber necklace, 169;
barrows, 175;
brochs, 262.
See Ronsay, Stromness, Unstan.
Ormiegill, 106.
Ornament, on pottery, origin of, 89, 198 n. 3;
on bronze weapons, 149;
on pottery of the Bronze Age, 197-200;
curvilinear, 236-9.
Ornaments, 92.
See Jewellery.
Ortels, A., 2.
Osismii, 221.
Οὐάτεις, 297 note.
Ouse, 48.
Oval barrows, 105 n. 2, 108.
Oxfordshire, 36, 84 n. 2, 101, 183 n. 1, 194 n. 3, 208,
235, 239-40, 246, 248 n. 2.
‘P’ Celts, 227-8, 409-10.
Palaeolithic Age, 4, 13-61;
chronology of, 8, 31-2;
relation of palaeolithic man to Ice Age, 22-5;
environment of palaeolithic man in Britain, 30-1;
whence did he come?, 30-1;
skeletons, 33-5, 380-3;
races, 34-5, 383-5;
artists, 35;
range of hunters in Britain, 35-6;

implements, 3-4, 24, 38-42;
where implements have been found, 36-7;
‘Palaeolithic Floor,’ 39;
workshops, 42-4;
culture of inhabitants in Britain, 45-9;
religion, 49-51;
did palaeolithic man leave descendants in Britain?, 59-61,
385-90.
Palestine, 30.
Palms in London Clay, 14.
Palstaves, 141, 144;
of Scandinavia, 172.
Papa Westray, Holm of, 102.
Paris, altars of, 276, 279 note.
Parisi, 235, 360 n. 2, 450-1.
Park Cwm, 107.
Pasturage, 88, 150-1.
Paviland Cave, 168, 397 n. 8.
Peanfahel, 421-2.
Pebbles, painted, 49;
in brochs, 262, 464.
Peebles-shire, 257 n. 5.
Peik-, 414.
Pengelly, W., 223.
Pennine Range, 68.
Pennocrucium, 450.
Pentagram, 295.
Pentland Firth, 224.
Pen-y-Gaer, 257.
Peristaliths, 105, 208 n. 2.
Perthes, B. de, 4.
Perthi-Chwareu, 55, 395.
Perthshire, 153, 194 n. 3, 208, 361 note.
Peru, 125.
Pestles, 75.
Petrie, W. Flinders, 9, 111 n. 3, 402, 479.

Pevensey, 558;
theory that Caesar landed at, 604-5, 611-21.
Peytrel, gold, 131, 163.
Philip of Macedon, 248.
Philology, 8;
as an aid to ethnological inquiry, 229, 375-6;
Celtic philologists differ on fundamentals, 453.
Phoenicians, 172, 219 n. 4, 221, 479, 489-91, 493-5.
497-8. 511-4.
See Cassiterides, Tin.
Phrygians, 514.
Picks, deer-horn, 69, 71;
at Stonehenge, 215, 470-1.
Pict (the name), 412-4, 419.
Pictones, 419.
Picts, 351, 391 n. 5;
the ‘Pictish question’, 409-24, 456;
Pictish inscriptions, 420-3.
‘Picts’ houses,’ 102 n. 4, 261, 391.
Piette, E., 9, 99.
Pigs, 88, 407;
interment of, in barrows, 203.
Pilgrim’s Way, 247, 256, 337.
Pins, of Bronze Age, 161;
Late Celtic, 240.
Pit-dwellings, 84-7, 153, 261.
Pits, in Hunsbury, Mount Caburn, and Worlebury forts,
256, 260.
Pitt-Rivers, A., 6-7, 71, 84 n. 2, 97 n. 7, 123 note, 136,
138, 144 n. 10, 175 n. 4, 176 n. 1, 179, 197, 201
note, 202 n. 3, 212, 215, 256-7, 267, 441.
Placard Cave, 99.
Placentia, 329.
Plas Newydd, 107.
Plateau gravels, 25-8, 36.
Pleistocene Period, 4, 11, 14, 27.

See Ice Age.
Pliny, 219, 224, 296, 592-3.
Ploughs, 152 n. 2, 253.
Plutarch, 628, 630-1.
Plymouth, 33.
See Cattedown Cave.
Polished stone implements, 73.
Polyandry, 351, 414-7.
Polybius, 219-20, 226 n. 3, 285.
Polytheism, 51, 276, 282.
Pomponius Mela, 1, 295 n. 1.
Pont Newydd, 40 n. 2.
Port Erin, 180.
Portsdown Hill, 20.
Portugal, 194, 263 n. 2;
Portuguese neolithic chambers, 87.
See Los Murciélagos.
Portus Itius, Caesar sails from, to Britain, 306-7, 312,
327, 330;
dispatch vessels ply between, and Britain, 348;
question of its site, 552-95.
See Ambleteuse, Boulogne, Calais, Somme, Wissant.
Portus Lemanis, 533, 538-41, 543-9, 551-2, 622.
Portus Ritupis, 519.
Posidonius, on tides, 219 n. 4, 319;
on Gallic banquets, 261;
on tin trade, 484, 499;
no evidence that he visited Britain, 499 n. 2.
Potter’s wheel, 191, 242.
Pottery, not made in Palaeolithic Age, 46;
at Hurstbourne and Highfield, 84 n. 2;
neolithic, 89, 96-7, 108, 109 n. 2;
domestic, of Bronze Age, 159, 467;
of Early Iron Age, 244;
sepulchral, of Bronze Age, 191-9, 467;
Late Celtic pottery, 242-4, 288;

‘Samian,’ 372;
potsherds in barrows, 113-4, 203-4;
at Stonehenge, 469 n. 7.
See Cinerary urns, Drinking-cups, Food-vessels, Incense-cups.
Prah Sands, 36 note.
Prasutagus, 358;
the name, 450, 452.
Prayer, 117, 290, 297.
Prehistoric ages, indefiniteness of, 72.
Prehistoric Britain, how our knowledge of it has been
obtained, 1-12.
Prehistoric Room (British Museum), 9, 70, 217 n. 1.
Prestwich, Sir J., 4, 23, 26-7.
Pretani, 411-3, 459.
Pretanic island, 227-8, 411-3, 459.
Πρετανικαὶ νῆσοι, 411, 459-61.
Promontory, rounded by Caesar in 55 B.C., 600, 650.
Property, private, in land, 252;
British women might own property, 269-70.
Prydein, 411, 413, 418-9.
Ptolemy, 235, 255, 422-3.
Puttenham, 137.
Pygmies, 390-3.
Pygmy flints, 82-3.
Pyrenees, palaeolithic artists of, 35 n. 3;
cave-dwellers, 47;
pottery of dolmens, 109;
misplaced by Strabo, 488.
Pythagoras, 294-5.
Pytheas, 152;
his voyage, 217-26;
his scientific and geographical work, 218-9, 221, 223, 351-2;
an authority on British ethnology, 227-9, 411-2, 445-6, 459;
discredited in Caesar’s time, 307;
on tides, 219, 319;
misunderstood by Professor Ridgeway, 495;

Diodorus Siculus ultimately derived description of Ictis from,
499.
See Ictis, Moon, Thule.
‘Q’ Celts, 227-8, 409-10.
Qicti, 414.
Qrtanic, 228.
Qrtanoi, 412, 452, 459.
Quaternary Period, 14.
Quatrefages, A. de, 9, 385.
Querns, 253, 262, 264, 361 note.
Quiberon Bay, 304.
Quintus Cicero.
See Cicero.
Rains Cave, 178.
Raised beach, 62.
Ramsgate, 519, 575, 577.
Ranke, J., 9, 439-40.
Rapier-shaped swords, 147.
Razors, 158, 160.
Read, C. H., 7, 134 n. 12, 182 n. 5, 217 n. 1, 430 note,
431, 505-6.
Reculver, 36-7, 336.
Red hair, 440.
Regni, 366, 617.
Reid, C., 19, 23, 27, 28 n. 2, 36 n. 1, 40 n. 2, 61 n. 3, 222,
503-7.
Reinach, S., 9, 47, 57 n. 5, 83 n. 3, 121 n. 1, 125 n. 4,
171 n. 3, 201 n. 3, 210, 277, 279, 292 note, 405 n.
7, 406 n. 6, 461-2, 493-4, 513-4.
Reindeer, 40, 68.
Religion, 10;
may have been a motive of palaeolithic art, 48;

and of geometrical decoration, 199 note;
religion of palaeolithic man, 49-51;
of neolithic man, 114-8;
in Bronze Age, 200-7;
Celtic, 271-90, 297-8;
the birthday of religion, 461-3.
See Altars, Animism, Anthropomorphism, ‘Continuance
theory,’ Druidism, Magic, Metempsychosis, Retribution,
Sun worship, Temples, Totemism.
Reliquiae Diluvianae, 4.
Remi, 299 n. 5, 454 n. 4.
Retribution, religious doctrine of, 296.
Rhee Wall, 535, 538-40, 542, 548;
built by Romans, 549-52.
Rhine, some of the brachycephalic invaders come from,
to Britain, 128, 443;
Rhinoceros, woolly, 20;
big-nosed, 40.
Rhoda, 248 n. 2.
Rhonddha valley, 134.
Rhône, tin exported from Britain to mouth of, 222, 499,
513.
Rhosdigre, 395.
Rhys, Sir J., 228, 290, 291 nn. 1-2, 351, 367 n. 9, 390-2,
405 n. 8, 409-24, 429-30, 433 n. 4, 446-9, 453-4,
459-61, 500, 508-9.
Richborough, 336, 641;
topography, 519-20;
distance from Gesoriacum, 591-2;
theory that Caesar landed at, 604, 663-4;
that he encamped on, 674.
Ridgeway Hill, 203.
Ridgeway, W., 9, 188 n. 2, 204, 221 n. 3, 495, 500-1,
507-9, 569-70, 619-21.
Rillaton, 195 note.

Rings, 165, 167, 183 n. 1.
Rivers, worshipped, 116, 272.
River-bed skulls, 8, 396-7.
River-drift, 22, 36;
‘river-drift men,’ 38, 383-5.
See Caves, High-level drift.
Riviera, 35, 67.
See Baoussé-Roussé, Mentone.
Robertsbridge, 616, 678.
Robin Hood Cave, 35, 45 note.
Rochester, 344.
Rodmarton, 105, 401.
Rolleston, G., 8, 112, 377-8, 406, 425 n. 4, 426, 432,
441, 662 n. 3.
Rollright Stones, 210, 470.
Rome, thanksgiving service at, for Caesar’s first invasion
of Britain, 325;
Roman troops versus British chariots, 341-3;
growth of Roman influence in Britain, 356-8, 362-3, 368-72;
flight of British princes to Rome, 366.
Romney, 535, 537-9, 540 n. 2, 543, 547, 550.
Romney Marsh, 310;
ancient geography of, 532-52, 622-3, 638, 640;
Maistre Wace anticipated modern view that Caesar landed on,
644.
Ross-shire, 115 n. 8, 168, 194 n. 3.
Rother, ancient course of, 533, 537-43, 552;
Airy holds that Caesar defeated Britons on in 54 B.C., 616.
Rouge, 80, 264.
Round barrows and cairns, 6, 8, 107-8, 119-20, 173-6;
first erected in Neolithic Age, 119-20, 408-9;
ditches, banks, and stone circles belonging to, 175-7, 207-8;
not erected only in memory of chiefs, 177-9;
cenotaphs, 180-1;
chronology of round barrows, 181-4, 476 n. 1;
round barrows of Early Iron Age, 287.

See Bell barrows, Bowl barrows, Disk barrows.
Round-headed invaders of Britain, 127-8, 424-44;
begin to arrive in Neolithic Age, 119, 127, 408-9;
of ‘characteristic’ type, 425-8, 444, 455;
of short stature (‘Alpine’ type), 426-8, 455;
earlier round-headed invaders not Celtic, 428-40.
Roundway Hill, 109 n. 3.
‘Row Grave’ skulls, 443 n. 5.
Royal Archaeological Institute, 5.
Royal Irish Academy, 5.
Royal Society of Antiquaries of Ireland, 5.
Rudstone, 201 n. 3.
Rufina, 368.
Rushmore, round barrows at, 201 note, 202 n. 3, 212 n.
2;
did not contain bronze, 215.
Rutupiae, distance from Gesoriacum, 591;
theory that Caesar landed at, 663-4.
See Richborough.
Rye, 604.
Sabinus, 304, 314, 324.
Sabre-toothed tiger, 37.
Sacrifice, 118.
See Animals, Human sacrifice.
Salisbury Plain, forts on, 133, 137 n. 4;
sarsens, 214;
Salisbury Spire, 217, 481.
Salmon, Ph., 9, 382 n. 2.
Sanson, N., 2.
Sandgate, coast between, and Dover, 531-2;
in connexion with question of Caesar’s landing-place, 627,
638, 640-2, 646-7, 651.
Sandown Castle, 312, 323;
coins found near, 520-1;

coast between, and Walmer Castle, 521-5.
Sandtun, 539, 541, 542 n. 1.
Sandwich, 311, 323;
Caesar lands near in 54 B.C., 335-6, 664-5;
coast between, and Sandown Castle, 519-20;
decay of port, 526;
theory that Caesar landed at, in 55 B.C., 604-5, 660-4.
See also 651, 657-8, 673-4, 683.
Sangatte, 306;
not Caesar’s ulterior portus, 581-3, 585, 619, 639, 740-1.
Sarrebourg, altar at, 281.
Sarsens, 214-5, 470-1, 479-80.
Saturn, 282.
Saws, flint, 41, 79, 132;
bronze, 132 n. 2, 140;
many flint saws in one barrow, 201 n. 3;
iron saws, 253.
Scabbards, 147;
Late Celtic, 237, 239.
Scaliger, J., 2.
Scandinavia, 9, 14, 66-7, 77, 102, 115, 168, 185, 195
note, 205-6, 211, 218, 404, 441;
trade, 170-1;
superiority of bronze culture, 172.
See Thule.
Schneider, R., 557, 589.
Scilly Islands, chambered barrows in, 102;
people of, traded by barter, 359;
identified with Cassiterides, 486, 490-3, 497-8, 513.
Scorborough Park, 435 n. 1.
Scotland, in Ice Age, 16, 21, 24;
subsidence of, 62;
dolmens, 66, 403 n. 5;
axe-hammers, 79;
barbed arrow-heads, 81;
chambered cairns, 101, 107;

Bronze Age began late, 132;
lead in bronze, 140;
cauldrons, 158;
ornaments, 163, 165, 167-9;
cairns, 174;
cemeteries, 178-9;
interments, 185, 200;
drinking-cups, 192, 195 note;
stone circles, 207-8, 476;
only one interment of Early Iron Age, 232 n. 2;
Late Celtic pins, 240;
vitrified forts, 259 n. 3;
dwellings and brochs, 261-2;
crannogs, 263 n. 2;
no coins struck in, 359.
See also 109, 129-30, 133, 141, 205, the counties, Ethnology,
&c.
Scrapers, palaeolithic, 41;
neolithic, 79;
on Dartmoor, 156.
Sculptor, neolithic, 70.
Sculptured stones, 8, 177, 183, 205-7.
Scythians, use of breeches borrowed from, 265.
Seaford, hill-fort at, 98 note, 136, 137 n. 1.
Secondary interments, 112, 173, 186 n. 4, 188-9.
Segontiaci, 346, 361, 700.
Seine, 327;
Selgovae, 448.
Selsea, 19.
Senotigirnios, 360 n. 2.
Sepulchral pottery, of Bronze Age, 191-9, 467;
Late Celtic, 242-3, 288.
Sergi, G., 9, 377-8, 398, 400-2, 404 n. 6, 406.
Sevenoaks, 25-6, 254.
Sewing, 47.

Shakespeare, 204.
Shakespeare’s Cliff, 310, 532.
Sheep, 88, 151, 357, 406.
Shells, 11, 16-7;
shell-fish eaten, 63, 157.
Shetland, 67, 129 n. 4, 225-6, 262.
See Thule.
Shields, 145-6;
Scandinavian, 172;
Late Celtic, 237, 244-5.
Ships, figured on Scandinavian rocks, 171 n. 3;
British, 246-7;
of the Veneti, 304;
Caesar’s, wrecked, 319-20, 338.
See Galleys, Transports.
Shorncliffe, 532, 536, 622-4, 651.
Shropshire, 208, 359.
Sibbald, Sir R., 4.
Siberia, 60-1.
Sickles, stone, 80;
bronze, 144-5;
iron, 253.
Sidbury Hill, 216, 472-3, 481.
Silbury Hill, 180-1.
Silchester, 255;
inscription found at, 410, 451.
Silura, 359 n. 12.
Silures, 281, 359 n. 12, 398.
Silver coins, 249, 358, 362;
bronze celt found with, 267 n. 2.
Simulacra, 285.
Sion type, 429-30.
Siret, MM., 9.
Sitting posture, 188 n. 2.
Skeletons, 3;
palaeolithic, 33-5, 380-3;

neolithic, 64, 393-8;
of late Neolithic Age and Bronze Age, 127-8, 424-8;
of Heathery Burn Cave, 159-60, 444;
of Early Iron Age, 234, 434-6.
Skin, vessels of, 42;
clothing, 47, 91, 156, 161, 267.
Skulls, 11.
See Skeletons.
Sling-bullets, 264, 268.
Slingers, in Caesar’s army, 313, 331, 346, 698.
Small Down Camp, 134.
Small Downs, 526, 665 n. 3.
Smertullos, 279 note.
Smith, C. Roach, 5.
Smith, W. Robertson, 203 n. 4, 252 n. 4, 277.
Smith, Worthington G., 44.
Smyth, Admiral W. H., 608.
Societies, archaeological, formation of, 5.
Society of Antiquaries, 3.
Society of Antiquaries of Scotland, 5.
Socketed weapons, 141, 144-5, 148-9;
very rare in interments of Bronze Age, 181-4.
Solent, 32.
Solinus, 359.
Solutré, 39, 41, 383-4.
Solway Moss, 76.
Somaliland, 31;
did Mediterranean race originate in? 406.
Somersetshire, 5, 101, 133-4, 175, 194 n. 3, 208, 232 n.
3, 250-1, 359-60.
Somme, 4, 302-3, 306, 327;
coast between, and Calais, 517-8;
estuary of, not Portus Itius, 558-63, 617, 621.
Somme Bionne, 238, 243.
South Downs, entrenchments on, 96, 98;
settlements on, 130.

South Foreland, 2, 223, 311, 315, 319, 334, 575 n. 4,
582, 627, 642-3, 650, 653, 659, 662-3;
ancient configuration of cliffs, 528-30;
Caesar drifted past, in 54 B.C., 616, 620, 655-6.
South Lodge Camp, 156-7.
Spain, 9, 21, 65, 82, 111, 171, 194, 200, 211, 220-1, 263
n. 2, 327;
Copper Age, 122;
trade, 172;
tin obtained from, 512.
Spear-heads, palaeolithic (?), 41;
neolithic, 80, 147;
bronze spears, 131, 145-8;
socketed spear-heads not found in interments of Bronze Age,
181, 182 nn. 2, 5, 184.
Spettisbury, 251.
Spindle-whorls, 91-2, 156, 160, 264.
Spiral ornament, 170-1, 200, 239.
Spy, 33-4, 381.
St. Albans, 255, 347, 701.
St. David’s Head, fort on, 258.
St. George’s Hill, 694-5.
St. Keverne, 435 n. 1.
St. Leonards, 614, 617.
St. Margaret’s Bay, 311;
movements of shingle at, 523, 529 n. 3.
St. Michael’s Mount, 222-3, 502-3, 506-7, 513.
See Ictis.
St. Valéry-sur-Somme, 243.
Stadia, 591-2.
Staffordshire, 82 n. 6, 129, 167, 194 n. 3, 203, 205, 208,
252.
Stalagmite, 59, 222, 386-7, 504.
Standard-bearer of 10th legion, 316-7.
Standards, military, 284.
Standlake, 84 n. 2, 183 n. 1.

Stannon, 211 n. 1.
Stanton Drew, 481-2.
Stars, worshipped, 116.
Statius, 114 n. 8.
Statues, 274, 279, 283-6;
statuettes at Brassempouy, 383 n. 2.
Stature, relative, of sexes in Neolithic Age, 91;
in Bronze Age, 152;
methods of estimating, 378-9, 740.
Steatopygous race, 383 n. 2.
Stokes, Whitley, 421-2, 450, 453.
Stonar, 519-20, 522 n. 6, 524 n. 2.
Stone Ages, 4.
Stone balls, 170.
Stone circles, 2 n. 1, 207-17, 285, 476-9;
within or enclosing barrows, 176-7;
solar temple theory, 210-1, 216-7, 478-9;
astral temples (?), 481-2.
Stonehenge, 5-6;
barrows near, 113-4, 167, 169-70, 174-5;
avenue, 209;
outlying stone, 210;
original form and construction, 213-4, 479-80;
date, 215-7, 468-77;
purpose of builders, 477-81.
See Evans, A. J., Hinks, Lockyer, Webb.
Stone implements, purposely broken in barrows, 115.
See Flakes, Neolithic Age, &c.
Stone rows, 208.
Stone Street, 543-4, 548-9.
Stones, engraved, 205-6.
Stoney Littleton, 105.
Stour (Hampshire), 25.
Stour.
See Great Stour and Little Stour.

Strabo, 1, 219, 223-5, 234, 261, 302, 357-8, 368-9, 558,
569-71, 577-9.
Stromness, 87 n. 1.
Stukeley, W., 2, 12, 174, 210.
Sturry, 336, 660, 683-5.
Stutfall Castle, 336, 544-7, 622, 638-9.
Submerged forests.
See Forests.
Submergence, in Ice Age, 16-7;
in Neolithic Age, 62-4.
Subsidence, in Neolithic Age, 64;
of SE. Britain and NE. Gaul since Roman times, 527, 566, 740.
Sucellos, 281 n. 8.
Suessiones, 299, 454 n. 4.
Suetonius, 1, 363.
Suffolk, 3. 22-3, 36, 69, 153, 194 n. 3, 263 n. 2, 347;
chisels, 77;
tankard, 241.
Sulpicius Rufus, 314.
Sunbury, 696.
Sunken Kirk, 212 n. 2.
Sun-worship, 116, 206-7, 210-1, 216-7, 280, 282, 472-
6, 478, 480.
See Concentric rings, Disks, Stone circles.
Surrey, 36, 82 n. 5, 97, 130, 137, 254, 362, 365.
Sussex, in Pleistocene Period, 19, 25;
terrace cultivation, 253.
See also 36, 98 note, 130, 134, 165, 176, 194 n. 3, 232 n. 3,
256.
Sutherlandshire, 150, 194 n. 3, 361 note.
Swanscombe skull, 33, 380.
Swastika, 199 note, 207, 244.
Sweden, 77, 126.
See Scandinavia.
Switzerland, 205.
See Lake-dwellings.

Swords, 131, 145-7, 172;
not found in interments of Bronze Age, 181-2, 184;
Late Celtic, 238-9.
Syracuse, 248 n. 2.
Syria, 66, 211, 213.
Taboos, 54, 118, 201 n. 3.
Tacitus, 1, 161, 239, 249, 268, 286, 292, 355, 358, 375,
398-9, 415, 418 n. 1.
Taddington, 108.
Taexali, 448.
Tamesi, 399 n. 1, 453.
Tanarus, 279.
Tanged blades, 145, 147, 182 n. 5.
Tankards, 241-2.
Taplow, 147.
Taranis, 278-9, 281.
See Tanarus.
Tarvos Trigaranus. 278, 284.
Tasciovanus, 361, 365, 368.
Tasmanians, 31, 44, 49 n. 5, 462.
Tattooing, 418-20.
Teddington, 696-7.
Teeth, of neolithic population compared with those of
Bronze Age, 90, 152.
Temperate animals, 20-1, 383.
Temples, 284-6.
See Stone Circles, Stonehenge.
Τενάγη, 631.
Terminalia, 722-3.
Tertiary man, 13-4;
deposits, 27.
Test, river, 32.
Textile fabrics, 89.
See Clothing.

Thames, southern limit of glacial movement, 18, 36 n. 1;
implements found in drift, 22, 23 n. 7, 24, 26, 42;
level of, in Palaeolithic Age, 30, 32;
implements and weapons found in bed of, 124, 147, 158, 238-
9, 244;
forded by Caesar, 345-6, 692-9;
his march to, 660-1.
Thanet, not to be identified with Ictis, 222, 500-2;
ancient configuration of, 519.
Thanington, 336, 683-5.
Thule, 223-6, 367;
confounded by Pliny with (M)ictis, 499 n. 5, 505.
Thurnam, J. T., 8, 97 n. 2, 102 n. 4, 112-3, 181 n. 2, 393-
5, 401-2, 426 n. 5, 427, 429-30, 434.
Tiberius, 369.
Tidal currents, 10, 311, 315, 334-5, 595-6, 599;
question of, in connexion with Caesar’s invasions of Britain,
605-11, 612-3, 620-1, 625, 634, 638, 640, 641 n. 1,
645 n. 3, 647-9, 655-9.
See Airy, Darwin.
Tides, Posidonius and Pytheas on, 219 n. 4, 319;
spring and neap, 601-2;
times of high tide at Dover on Aug. 55 B.C., 610.
Tim...., 363-4.
Timaeus, 273, 351.
Timagenes, 294.
Tin, 121-2, 125;
early mining of, in Cornwall, 139, 502-3 n. 8;
smelting of, 140;
coins, 249;
produced in the Cassiterides, 483-6, 488-98;
British trade in, 218, 220-3, 251, 307, 358, 483-514;
had trade temporarily ceased in Caesar’s time? 509;
or before A.D. 50? 509-11;
did Phoenicians trade for, with Britain? 511-4.
See Cassiterides, cassiteros, Ictis, κασσίτερος.

Tincommius, 364-9.
Titurius.
See Sabinus.
Togodumnus, 370-1, 453.
Tongs, 157-8.
Torquay, 4, 37, 244.
Torques, of Bronze Age, 163;
Late Celtic, 93, 241.
Totemism, 51-7, 284.
Toutates, 278-9, 281-3.
Towyn-y-Capel, 396.
Trackways, 247-8, 344.
Trade, in Neolithic Age, 71;
in Bronze Age, 167-72;
Late Celtic, 246-8, 269;
of Veneti, 302;
trade stimulated by Caesar’s invasions, 308, 356-7, 371;
British, described by Strabo, 358.
See Tin.
Transition between Palaeolithic Age and Neolithic Age,
13, 63;
from Neolithic to Bronze Age, 71-2, 120, 131-2, 139-40;
from Bronze to Early Iron Age, 230, 267.
See Hiatus.
Transmigration of souls, 293.
See Metempsychosis.
Transports, used by Caesar in 55 B.C., 313-20, 324, 554,
596;
constructed by him in 55-4 B.C., 326, 331, 555, 599;
constructed by Labienus, 350, 584;
transports which conveyed Caesar’s cavalry in 55 B.C., 313-4,
318-9, 554-6, 597-8;
could not have returned in gale of Aug. 30 from near
Pevensey to Authie, 558, 613;
or from near Walmer or Hythe to Sangatte, 581-3;
or from near Pevensey to Sangatte, 618-9;

or from near Hythe or Lympne to Ambleteuse, 624-5;
or from near Hurst to Sangatte or Ambleteuse, 639;
or from near Bonnington to Ambleteuse, 643;
some did return from near Walmer to Ambleteuse, 319, 588,
651;
day on which they sailed from Gaul, 601.
Trebatius, 328.
Trebonius accompanies Caesar to Britain in 54 B.C., 334;
defeats Britons, 341, 353, 692.
Trees worshipped, 272.
Trelan Bahow, 239.
Trent, skull found in, 63, 396.
Trepanning, 79, 93, 260.
Treveri, 330, 667-8.
Triads, 274.
Tribute, British tribes ordered by Caesar to pay, 350,
356, 670-1;
not levied by Augustus, 368.
Trinovantes, 235, 299 n. 5;
furnish grain to Caesar, 254, 339, 343, 346;
opposed to Catuvellauni, 300, 309, 327, 361;
Caesar enters their territory, 346-7, 702;
subdued by Cunobeline, 362;
by Dubnovellaunus, 363, 366.
Tropical animals, 20-1, 40.
Triskele, 242.
Trumpets, 172, 317.
Turner, J. M. W., 213.
Turner, Sir W., 8, 109 note, 375 n. 1, 377.
Tweezers, 160, 264.
Tyddyn Bleiddyn, 395.
Tylor, Prof. E. B., 10, 49 n. 5, 50, 277, 295 n. 1, 461, 463,
675.
Ty Mawr, 154, 155 n. 1.

Uley, 106-7.
Ulterior portus, 554, 556.
Unstan, 97 n. 2.
Uphill, 395.
Upper Greensand, 27.
Upper Swell, 106, 110 n. 11, 112.
Upton Lovel, 163.
Uxellon, 448.
Uxisama, 221.
V-shaped holes, 161, 162 n. 1.
Vacomagi, 448.
Vada, 631.
Varro, 286.
Vectis, 504-5, 740.
Veneti, 223;
Caesar’s campaign against, 302-5;
Strabo’s explanation of their hostility to Caesar, 308;
their trade, 506, 508-9.
Venta, 232 n. 3.
Vepogen, 415-7.
Vercingetorix, 353, 364-5
Vergil, 367.
Verica, 365-6.
Verulamium, 255;
perhaps the stronghold of Cassivellaunus, 347, 701-2;
its mint, 359, 361-2
Vesta, 286.
Vigo, islands near, identified with Cassiterides, 487-9,
494-6.
Virchow, R., 9.
Vitrified forts, 259 n. 3, 739.
Volisios, 360 n. 2.
Volusenus reconnoitres British coast, 308-10, 554, 596-
7;

Caesar acts upon his report, 315;
attempts to assassinate Commius, 365;
various topographical inferences from Caesar’s account of his
reconnaissance, 613, 627, 639-40, 645-6, 651-2.
Votadini, 235.
Vulcan, 276.
Wagons, 152, 221, 247, 505.
Walbrook, 255, 703.
Wales, 5, 14, 24, 65 n. 3, 66, 86 n. 4, 101-2, 124, 129,
133, 135, 174, 208, 233, 259 n. 3, 263 n. 2, 359;
iron tools rare in, in pre-Roman times, 266.
See the counties.
Walmer, 253, 316, 321, 323, 519-21, 576, 604, 626-7,
674;
theory that Caesar landed at (and Deal) in 55 B.C., 644-62;
castle, 311, 521-5, 604, 653, 664, 674;
church, 311, 673-4.
See Deal.
Walton-on-Thames, 693, 695.
Wandsworth, 239.
Wansdyke, 260 n. 1.
War Ditches, 454.
War, internecine, in Britain, 95, 129, 131, 133, 268-9,
339.
Warminster Downs, 90 n. 2.
Warne, C., 5.
Warren, The, 532.
Warwickshire, 131, 260 n. 1.
Water Eaton, 240.
Water supply, 138-9, 256.
Watling Street, 344, 704-5.
Weald, 26, 357.
Wealden Forest, 98, 253, 310, 615 n. 1.
See Andred.

Wealth, 167, 269, 357.
Weaving.
See Spindle whorls.
Webb, E. J., 474-6, 482.
Weems, 153. 391.
Wellesley, Sir A., 645-6.
Well-worship, 116, 272, 283.
Wendover, 701.
West Furze, 87.
West Hythe, 253-4;
ancient topography of, 539, 541, 544-5, 547-9, 622-3, 636,
639.
West Hythe Oaks, 533, 535-6, 542, 545-9, 552, 624.
West Indies, 76.
West Kennet, 97 n. 2, 103, 105, 403.
Westmorland, 101, 194 n. 3, 205. 212 n. 2, 359.
West Wickham, 81, 89 n. 8.
Weybourne, pit-dwellings at, 85;
theory that Caesar landed at, 604.
Wheel, god of the, 279-80.
Whetstones, 75.
Whit Tor, 96, 134, 155.
Wight, Isle of, 19, 27 n. 4, 32, 67, 145, 251;
wrongly identified with Ictis, 222-3, 501-7.
William the Conqueror, 314, 563, 614.
Wilson, D., 7.
Wiltshire, 27, 97, 109 n. 2, 130, 156, 160, 182 n. 5, 194
n. 3, 208, 215, 217, 232 n. 3, 250, 256, 287, 288 n.
1;
long barrows, 101-2, 105;
population subdued by Bronze Age invaders, 129;
ornaments, 162-3, 165, 167-70, 172;
round barrows, 175-8;
interments, 184, 187-91, 196, 203;
coins, 359, 362.

Wind shifted in Caesar’s first voyage to Britain, 314,
626-7;
dropped in second voyage, 334, 576 n. 1;
great influence of winds on tides, 595, 602, 608.
Windsor, 48.
Winkelbury, 169 n. 9, 256.
Winterbourne Stoke, 162 n. 1.
Wissant, 306-7, 552-3, 555 n. 2, 557-8;
not Portus Itius, 565-85, 588 n. 5, 589, 619, 652.
Witham, shield found in, 237, 284.
Wolds.
See Yorkshire.
Wolseley, Lord, on warfare with savages, 354;
on range of vision, 612 n. 3;
on fords, 694.
Wolves, 68, 98.
Women, lot of, in Neolithic Age, 91;
in Bronze Age, 152;
in Early Iron Age, 269-70.
Woodcuts, 84 n. 2, 138, 261 n. 3.
Wooden tools, 42.
Woodnesborough, 519.
Woodwork, Late Celtic, 241-2.
Wookey Hole, 37.
Wor Barrow, 103 n. 2, 105, 111 n. 3, 179.
Worcestershire, 131, 134, 251, 360.
Workshops, 7;
palaeolithic, 42;
neolithic, 70, 85.
Worlebury, 253, 255-6, 434 n. 6.
Worth, 335, 660, 673-4.
Wright, Dr. W., 385 n. 7, 427-8.
Wrist-guards, 82, 162.
Writing, primitive, 99;
in Early iron Age, 265-6.
Wye, 633, 660-1, 678.

Welcome to our website – the perfect destination for book lovers and
knowledge seekers. We believe that every book holds a new world,
offering opportunities for learning, discovery, and personal growth.
That’s why we are dedicated to bringing you a diverse collection of
books, ranging from classic literature and specialized publications to
self-development guides and children's books.
More than just a book-buying platform, we strive to be a bridge
connecting you with timeless cultural and intellectual values. With an
elegant, user-friendly interface and a smart search system, you can
quickly find the books that best suit your interests. Additionally,
our special promotions and home delivery services help you save time
and fully enjoy the joy of reading.
Join us on a journey of knowledge exploration, passion nurturing, and
personal growth every day!
testbankdeal.com

Fundamentals of Advanced Accounting 8th Edition Hoyle Solutions Manual

More Related Content

Similar to Fundamentals of Advanced Accounting 8th Edition Hoyle Solutions Manual (20)

Recently uploaded (20)

Fundamentals of Advanced Accounting 8th Edition Hoyle Solutions Manual