Find what amount will be shown in the consolidated statement

Assignment Help Accounting Basics
Reference no: EM132697805

William Company acquires 70 per cent of Bill Company for a cash price of $10,000,000 when the share capital and reserves of Bill Company are:

Share capital $8,000,000
Retained earnings $2,000,000
TOTAL $10,000,000

Problem (a) What amount will be shown in the consolidated statement of financial position for goodwill pursuant to AASB 3 assuming that any non-controlling interest in the acquirer is measured at fair value?

Problem (b) What amount will be shown in the consolidated statement of financial position for goodwill pursuant to AASB 3, assuming that any non-controlling interest in the acquirer is measured at the non-controlling interest's proportionate share of the acquiree's identifiable net assets?

Problem (c) What are some of the implications of allowing the group to have two options in accounting for goodwill on consolidation?

Reference no: EM132697805

Questions Cloud

Physical security- hardening methods of entry control : Describe and explain some of the hardening methods of entry control. What are protective barriers, and what should they entail?
Draw about valuation and allocation of ppe from information : Using your firm's sampling technique, you have selected representative sample of Property. Draw about 'valuation and allocation' of PPE from the information
How you will protecting human subjects in research : This week you will examine the concept of protecting human subjects in research. The aim is to familiarize you with the ethical issues associated with research.
What is the value of the arrays pattern : Determine the magnitude of the Phase Shift angle in degrees 1,006 m away and broadside to the receiving antenna and What is the value of the arrays pattern
Find what amount will be shown in the consolidated statement : Find What amount will be shown in the consolidated statement of financial position for goodwill pursuant to AASB 3 assuming that any non-controlling interest
Calculate the net gst payable : Identify under which classification the transactions are to be included in the BAS statement. Paid its external suppliers $11,000 (GST inclusive)
Explain the ethical considerations in health care : Students are required to submit weekly reflective narratives throughout the course that will culminate in a final, course-long reflective journal due in Topic.
Create object relationship diagram : The library staff at Oakwood Community College works hard to satisfy students and facult. Create object relationship diagram that provides overview of system
Has social media created the global village : Has social media created the Global village? Discuss the opportunities and challenges that Social Media presents.Explain in detail and provide the example.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Effect of errors on working capital

Indicate the effect of each of these errors on working capital, current ratio (assume that the current ratio is greater than 1), retained earnings, and net income for the current year and the subsequent year.

  Estimate the materials, labor, and overhead costs

EcoSacks manufactures cloth shopping bags. Estimate the materials, labor, and overhead costs for the coming year

  Determine which single factor carries the most weight

Analyze the factors involved in translating the statements of a foreign entity operating in a highly inflationary economy and determine which single factor carries the most weight. Explain your rationale.

  What will the projected retained earnings account

A company has retained earnings of $94,000 as of December 31, 2014. What will the projected retained earnings account be as of December 31, 2015

  Describe the computer hardware

Describe the Computer hardware that needs to be considered during the initial design and set-up phase of the microcomputer environment.

  Compute the net present value and profitability index

Brooks Clinic is considering investing in heartmonitoring equipment. Compute net present value, profitability index and internal rate of return for each option.

  What is paycheck risk premium

If the market return is expected to be 13.50 percent and the risk-free rate is 4.50 percent, what is Paycheck's risk premium

  Assess the financial value of the acquisitions

Assess the financial value of the acquisitions and investments made by Amazon.com, and the influence of the acquisitions and investments on profitability.

  Which is a subheading under the operating expenses

Which is a subheading under the operating expenses of an income statement? Adjusting entries./Selling expenses./ Prepaid expenses

  Calculate the cost per equivalent unit of conversion

Total costs were $20,000 for material and $12,000 for conversion. Calculate the cost per equivalent unit of conversion

  Assume that all direct material used is only recorded at

1. hpc inc. has developed a standard pricing system for its products.nbspnbspthe variable cost standards based on

  Robert haddon contributed 70000 in cash and land worth

robert haddon contributed 70000 in cash and land worth 130000 to open a new business rh consulting. which of the

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd