职上网在线题库 > ACCA英国注册会计师试题 > F3 > Chapter20-23 > Micro Co a...

Micro Co acquired 90% of the $100,000 ordinary share capital of Minnie Co for $300,000 on

1 January 20X9 when the retained earnings of Minnie Co were $156,000. At the date of acquisition the fair value of plant held by Minnie Co was $20,000 higher than its carrying amount. The fair value of the non-controlling interest at the date of acquisition was $75,000.

What is the goodwill arising on the acquisition of Minnie Co?

A

$119,000

B

$99,000

C

$139,000

D

$24,000

扫码查看暗号，即可获得解锁答案！

在此输入暗号

点击获取答案

Chapter23Introductiontoconsolidatedfinancialstatements

$

Fair value of consideration Plus fair value of NCI at acquisition 300,000

Less net acquisition-date fair value of identifiable assets acquired and liabilities assumed: 75,000

Share capital 156,000

Retained earnings at acquisition 100,000

Fair value adjustment at acquisition 20,000

Goodwill 276,000

99,000

多做几道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1 and 2

B

2 and 3

C

1 and 4

D

3 and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

最新试题

该科目易错题

该题目相似题

Gusna Co purchased a building on 31 December 20X1 for $750,000. At the date of acquisition, the useful life of the building was estimated to be 25 years and depreciation is calculated using the straight-line method. At 31 December 20X6, an independent valuer valued the building at $1,000,000 and the revaluation was recognised in the financial statements. Gusna’s accounting policies state that excess depreciation arising on revaluation of non-current assets can be transferred from the revaluation surplus to retained earnings.What is the depreciation charge on the building for the year ended 31 December 20X7?A$40,000B$50,000C$30,000D$42,500
PF purchased a quota for carbon dioxide emissions for $15,000 on 30 April 20X6 and capitalised it as an intangible asset in its statement of financial position. PF estimates that the quota will have a useful life of 3 years. What is the journal entry required to record the amortisation of the quota in the accounts for the year ended 30 April 20X9ADr Expenses $15,000 Cr Accumulated amortisation $15,000 BDr Expenses $5,000 Cr Accumulated amortisation $5,000 CDr Intangible assets $5,000 Cr Accumulated amortisation $5,000DDr Accumulated amortisation $15,000 Cr Intangible assets $15,000
A business has compiled the following information for the year endedOpening inventory Purchases Closing inventoryThe gross profit as a percentage of sales is always 40%Based on these figures, what is the sales revenue for the year?A$1,333,500B$1,587,500C$2,381,250DThe sales revenue figure cannot be calculated from this information
The following information is relevant for questions 20.4 and 20.5.A is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 November 20X3. $Trade receivables, 1 December 20X2 130,000Trade payables, 1 December 20X2 60,000Cash received from customers 686,400Cash paid to suppliers 302,800Discounts allowed 1,400Discounts received 2,960Irrecoverable debts 4,160Amount due from a customer who is also a supplier offset against an amount due for goods supplied by him 2,000Trade receivables, 30 November 20X3 181,000Trade payables, 30 November 20X3 84,000 Based on the above information, what figure should appear in A's statement of profit or loss for the year ended 30 November 20X3 for sales revenue?A$748,960B$748,800C$744,960D$743,560
Which one of the following would be an error of principle?APlant and machinery purchased was credited to a non-current assets account.BPlant and machinery purchased was debited to the purchases account.CPlant and machinery purchased was debited to the equipment accountDPlant and machinery purchased was credited to the equipment account.
The cash book shows a bank balance of $5,675 overdrawn at 31 August 20X5. It is subsequently discovered that a standing order for $125 has been entered twice, and that a dishonoured cheque for $450 has been debited in the cash book instead of credited.What is the correct bank balance?A$5,100 overdrawnB$6,000 overdrawnC$6,250 overdrawnD$6,450 overdrawn
The following information relates to a bank reconciliation.(i) The bank balance in the cashbook before taking the items below into account was $8,970 overdrawn.(ii) Bank charges of $550 on the bank statement have not been entered in the cashbook.(iii) The bank has credited the account in error with $425 which belongs to another customer.(iv) Cheque payments totalling $3,275 have been entered in the cashbook but have not been presented for payment.(v) Cheques totalling $5,380 have been correctly entered on the debit side of the cashbook but have not been paid in at the bank.What was the balance as shown by the bank statement before taking the above items into account?A$9,520 overdrawnB$11,200 overdrawnC$9,520 in credit D$11,200 in credit
The financial statements of Overexposure Co for the year ended 31 December 20X1 are to be approvedon 31 March 20X2. Before they are approved, the following events take place.1 On 14 February 20X2 the directors took the strategic decision to sell their investment in Quebec Co despite the fact that this investment generated material revenues.2 On 15 March 20X2, a fire occurred in the eastern branch factory which destroyed a material amount of inventory. It is estimated that it will cost $505,000 to repair the significant damage done to the factory.3 On 17 March 20X2, a customer of Overexposure Co went into liquidation. Overexposure has been advised that it is unlikely to receive payment for any of the outstanding balances owed by the customer at the year end.How should these events reflected in the financial statements at 31 December 20X1?Adjust Disclose Do nothingA 3 2, 3 1B2, 3 1 -C3 1, 2 -D 2 3, 1
Which of the following is the correct definition of an adjusting event after the reporting period?AAn event that occurs between the reporting date and the date on which the financial statements are authorised for issue that provides further evidence of conditions that existed at the reporting dateBAn event that occurs between the reporting date and the date on which the financial statements are authorised for issue that provides evidence of conditions that arose subsequent to the reporting dateCAn event that occurs after the date the financial statements are authorised for issue that provides further evidence of conditions that existed at the reporting dateD An event that occurs after the date the financial statements are authorised for issue that provides evidence of conditions that arose subsequent to the reporting date
A draft statement of cash flows contains the following calculation of cash flows from operating activities: $mProfit before tax 13Depreciation 2Decrease in inventories (3)Decrease in trade and other receivables 5Decrease in trade payables 4Net cash inflow from operating activities 21Which of the following corrections need to be made to the calculation?1 Depreciation should be deducted, not added.2 Decrease in inventories should be added, not deducted.3 Decrease in receivables should be deducted, not added.4 Decrease in payables should be deducted, not addedA1 and 3B2 and 3C1 and 4D2 and 4