Tutorial Week 6 Homework
Chapter 5 Fair value measurement
Case Study 1
1. Determine the asset or liability that is the subject of measurement:
In this case, there are 2 assets that could be measured at fair value, namely land
and factory. An
Tutorial Week 7 Homework
Chapter 10 Business Combinations
SWEETLIP LTD WAREHOU LTD
Net fair value of identifiable assets and liabilities acquired:
TUTORIAL 11 Homework Solutions
Chapter 19: Consolidation: other issues
3. Why does the indirect NCI receive a share of only post-acquisition equity?
A Ltd 80%
A Ltd 48%
Tutorial Week 12 Homework
Chapter 20: Accounting for investments in associates
10. Explain why equity accounting is sometimes referred to as one-line consolidation.
Equity accounting is similar to consolidation in that:
- both recognise t
Tutorial Week 10 Homework
Chapter 18: CFS: Non-controlling interest
If a step approach is used in the calculation of the NCI share of equity, what are
the steps involved?
There are 3 steps:
1. Share of equity at acquisition date.
Tutorial Week 9 Homework
Chapter 17 Consolidated financial statements: intragroup
1. Why is it necessary to make adjustments for intragroup transactions?
The consolidated financial statements are the statements of the group,
Tutorial Week 8 Homework
Chapter 16 Controlled entities: the consolidation method
10. Why are some adjustment entries in the previous periods consolidation worksheet
also made in the current periods worksheet?
The consolidation worksheet
Tutorial Week 5 Homework
Chapter 6: Accounting for income tax
Outline the different treatments for accounting and tax purposes of the
(a) depreciation of non-current assets
(c) long-service leave payable
Tutorial Week 4 Homework
Chapter 12: Disclosure: Legal requirements and accounting
15. What is the difference between the two types of events occurring after the
end of the reporting period? Is their accounting treatment identica
Tutorial Week 3 Homework
Chapter 2 Financing company operations
7. What is private placement of shares?
disadvantages of a private placement?
What are the advantages and
A private placement is an issue of shares to a large institutional i
Tutorial Week 2 Homework
Chapter 3: Company Operations
Case Study 4:
Currently, there is no Australian accounting standard to provide accounting
policies or guidance to deal with accounting for advertising expenditure of t
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Consolidation 28) The Parent provided administration services to the Subsidiary during the year to 30 June 2009 amounting to $50,000. The Subsidiary has paid for these services by year end. The consolidation worksheet entries for 30/6/09 include: a) Dr. C
Part B Written Answers Required (50 marks) Question 51 (25 marks) Consolidation Journal Entries Including NCI On 1 July 2004 Parent Ltd acquired 75% of the ordinary voting shares of Sub Ltd at a cost of $55,200. At this date the share capital of Sub Ltd i
Question 15 (10 marks) On 1 January 20X1, Parent Ltd acquired 70% of the ordinary voting shares of Child Ltd which in turn acquired 80% of the ordinary voting shares of Grandchild Ltd.
The fair value of the net
Use the information below to answer questions 31 to 35 The X LTD Group was established on 1 January 20X0 as follows:
X LTD Y LTD
Consolidation worksheet entries are being prepared for the year to 31 December 20X2 Details about intra-group tr
Question 14 (25 marks) The X LTD Group was established on 1 January 20X0 as follows:
X LTD Y LTD
Details about intra-group transactions and balances are set out below. 1. Sale of inventory from X to Z during 20X1 (3 marks) X made inventory s
ACCT 2542 WEEK 6 CLASS TEST (15%) STUDENT NAME: . STUDENT NUMBER: .
QUESTION TWO On 1 July 20X6 A Ltd acquired all the ordinary voting shares of B Ltd in exchange for cash consideration of $550,000. At the acquisition date the balance sheets of A Ltd and
ACCT 2 5 4 2 5 Class Test for 2010
QUESTION ONE What is the definition of control that is used to identify the corporate group? QUESTION TWO On 1 July 20X6 A Ltd acquired all the ordinary voting shares of B Ltd in exchange for cash consideration of $55