User Account

All Pages

What are some of the implications of allowing the group

Assignment Help Financial Accounting
Reference no: EM133007072

Question - 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

$10 million

(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?

(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?

(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.

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

Reference no: EM133007072

Questions Cloud

Compute the use tax that ms pike owes to california : Ms. Pike, who lives in California, traveled to Oregon to purchase gold jewelry for $20,000. Compute the use tax that Ms Pike owes to California
Calculate his taxable income and tax liability : Mr B aged 52 years, has earned rupees 75,00,000 out of his business. Calculate his taxable income and tax liability
Prepare journal entries in the proper format for transaction : Bronco Corporation uses accrual accounting to record revenues and expenses, Prepare journal entries in the proper format for the above transactions
What is the future value of this cash flow : Given the following cash inflow at the end of each year, what is the future value of this cash flow at 6%, 9%, and 15% interest rates at the end of seventh year
What are some of the implications of allowing the group : What are some of the implications of allowing the group to have two options in accounting for goodwill on consolidation
Record the preceding transactions in journal entries : Total labour costs of $221,000 were incurred. of this amount $203,000 was for direct labour. Record the preceding transactions in journal entries
Prepare an amortization schedule for a three-year loan : Prepare an amortization schedule for a three-year loan of $111,000. The interest rate is 10 percent per year, and the loan calls for equal annual payments.
How much money does she have to save in a fund : Shi Pak Napak would like to receive P40,000 each quarter for 10 years after she retires. How much money does she have to save in a fund
How much of all of their accounts will be insured by fdic : Fred and Wilma are married with two boys, Slate and Stone. Fred (individual account) $450,000. How much of all of their accounts will be insured by the FDIC?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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