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Assume that Company A acquires 70 per cent of Company B for a cash price of $14 million when the share capital and reserves of Company B are:
Share capital $8 million Retained earnings $2 million Total $10 million Problem (a) What amount of goodwill will be shown in the consolidated statement of financial position pursuant to AASB 3 assuming that any non-controlling interest in the acquirer is measured at fair value? Problem (b) What amount of goodwill will be shown in the consolidated statement of financial position 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) Pass the necessary consolidation journal entries and the journal entries to record the non-controlling interest if the non-controlling interest in the acquirer is measured at the non-controlling interest's proportionate share of the acquiree's identifiable net assets. Problem (d) What are some of the implications of allowing the group to have two options in accounting for goodwill on consolidation?
TR Company conducts business exclusively in State V, which levies a 5% sales and use tax on goods purchased or consumed in-state. This year, TR bought equipment in State B. TR also bought machinery in State D. How much use tax does TR Company owe to ..
Calculate the coefficient of variation for the following three stocks. Then rank them by their level of total risk, from highest to lowest
Coakley Beet Processors, Inc., processes sugar beets in batches. A batch of sugar beets costs $43 to buy from farmers and $17 to crush in the company's plant. Two intermediate products, beet fiber and beet juice, emerge from the crushing process.
Suppose you and a friend developed, Which of the business type would be best suited to help the company raise the necessary capital to begin production.
For two mutually exclusive investments, the management of the company has developed cash flow estimates as pessimistic, most likely, and optimistic. Both projects have a life of 15 years. Cost of capital = 14 percent. Which project is more risky? Rec..
If United snack company had an annual interest expense of $35,000, calculate the degree of financial leverage at both 19,000 and 24,000 bags.
You were land and buildings, Advise Enyan on how the transaction should be correctly dealt with in its financial statements with reference to relevant IFRS.
Installing the new lighting system will cost $1.5 million, If the steel company has a cost of capital of 6%, what is the NPV of this investment
The bonds are dated June 1, 2011. The bonds were issued at 96, and pay interest on December 1 and June 1. The entry to record issuance of the bonds is?
The accounting for assets, both current and long-term, has changed significantly since the inception of the FASB. Discuss some of the primary changes in the accounting (measurement and reporting) for assets that the FASB has implemented.
Demonstrate the dollar amount that Brunswick will report on its fiscal year 2018 Balance Sheet for Paid in Capital Treasury Stock.
If Farmington outsources the Engineering Department, what is the maximum they can pay an outside vendor without increasing total costs?
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