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Q1: FINANCING COMPANY OPERATIONS You should be prepared to write the journal entries to record the issuing of shares via IPO, the forfeiture and reissue. (Please review TOPIC 4 Lecture examples* and PRACTICE SET: EXERCISE 13.11)Q2: PPE REVALUATIONYou should be prepared to write the journal entries to record the PPE revaluation increment and/or decrement. (Please review TOPIC 7 Lecture examples and practice set questions) Ignore the Tax.Q3 : IMPAIRMENT OF THE ASSETS 10 MARKSYou should be prepared to write the journal entries for any impairment loss according to AASB 136. (Please review TOPIC 9 Lecture example* and PRACTICE SET: EXERCISE 7.7 & 7.9)Q4: CONSOLIDATION: INTRA-GROUP TRANSACTIONSYou should be prepared to write the consolidation journal entries that are necessary to eliminate/adjust the financial effects from transactions between a parent company and its subsidiary. The transactions may include the following: (a) Management fees. (b) Dividends. (c) Issue of debentures/ intra-group borrowings (d) Sale of inventory in prior year with unrealised profit in opening inventory (e) Sale of inventory current year with no unrealised profit. (f) Sale of inventory current year with unrealised profit in closing inventory. (g) Sale of land in current year or prior year with unrealised profit. (h) Sale of plant in current year or prior year with unrealised profit. (Please review TOPIC 13 Lecture example* and PRACTICE SET: EXERCISE 28.1, 28.3, 28.5 and 28.6)Q5: NCI ENTRIES ON CONSOLIDATION WORKSHEETYou should be prepared to determine the ownership interests in the subsidiaries and write entries for the following: (Focus on Partial Goodwill method) (a) NCI in equity at the date of acquisition for each subsidiary (step 1). (b) NCI in the change in equity to the beginning of current year for each subsidiary (step 2). (c) NCI in profits and dividends of the current year for each subsidiary (step 3). (Please review TOPIC 14 & 15 Lecture example* and PRACTICE SET: EXERCISE 30.1 & 30.3)Q6: CASE STUDYType1: Based on the case, you should be prepared to discuss whether the investor and invest in the case have parent-subsidiary relationship according to AASB10. (Please reviewTOPIC 11 Lecture example* and PRACTICE SET: EXERCISE ) Type2: Based on case, you should be prepared to discuss whether theses post balance events as either adjusting or non-adjusting events after the end of the reporting period. And prepare the necessary journal entries or note disclosures to comply with the requirements of AASB 110. (Please review Topic 3 PRACTICE SET: EXERCISE)Q7: MULTIPLE CHOICE QUESTIONS10 MCQs: Only including the theory questions from Topic 6, 8 , 10 & 16 (Please review the lecture slide and selected comprehension questions in the practice set)
Note: students can use abbreviation for BCVR, NCI, ARS, Acc. Dep'n , Dep'n exp. Transfer From BCVR, DTA, DTL, ITE, and RE in the final exam.
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The financial impact that declaring the rebate before or after 30 June will have. - Whether or not this represents earnings management, and if it is good or bad earnings management?
2.0 percentage points, and XYZ, Inc. acquires risky assets that increase its beta by the indicated percentage. What is the firm's new required rate of return?
The general formula to allocate cost is: a. estimated overhead cost divided by cost pool b. cost pool divided by estimated overhead pool c. cost to be allocated divided by total occurrences of the allocation base d. cost base divided by estimated ove..
According to the new requirement, the company should record an expense $50,000 for 2005 and $50,000 for 2006. During 2008, all options are exercised. Illustrate what is the effect of the free cash flows for 2005?
Identify the profit to your investment, at the call's expiration, for each of these value of the underlying stock: $25, $70, $100, $400.
Supply Club, Inc., sells a variety of paper products, office supplies, and other products used by businesses and individual consumers. During July 2016 it started a loyalty program through which qualifying customers can accumulate points and redeem t..
Which of the following costs constitutes a direct material in an Iron Foundry? Which of the following is a variable cost? The second stage in an ABC costing system is to compute: Activity pools are:
Determining the Accounting Equation Effects of Transactions [LO 5-3] La-Z-Boy Incorporated is a furniture manufacturer. Listed here are typical aggregate transactions from the first quarter of a recent year (in millions).
Explain to management on the two options as prescribed under HKFRS. Advise the management which option you will choose and explain why.
Find what would be its approximate value after the split (other things equal)? If Kinmi's stock price had been $49 at the time of the split?
Describe how it is different to statutory income and exempt income and determining whether a fringe benefit
Why is it important to investigate both price (rate) and volume (efficiency) variances when rewarding employees for satisfactory work when performance evaluations are based on meeting budgets? What is some qualitative consideration that might be help..
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