GUST-Advanced-accounting-Chapter02-test-bank-part1

1. Use the following information to answer questions 1 : 8.

On 1 January 2016 P Limited acquired 60% of the equity shares of S Limited. The statement of financial position (balance sheet) is shown below (all figures in the question are in thousands of USD)

All assets and liabilities of S Limited were recorded at fair value at the acquisition date. Non-controlling interest are valued at their proportionate share of the identifiable net assets of S Limited.

The goodwill associated to this acquisition is:

2. Use the following information to answer questions 1 : 8.

On 1 January 2016 P Limited acquired 60% of the equity shares of S Limited. The statement of financial position (balance sheet) is shown below (all figures in the question are in thousands of USD)

All assets and liabilities of S Limited were recorded at fair value at the acquisition date. Non-controlling interest are valued at their proportionate share of the identifiable net assets of S Limited.

The group figure for Non-controlling interest at 1 January 2016 is?

3. Use the following information to answer questions 1 : 8.

On 1 January 2016 P Limited acquired 60% of the equity shares of S Limited. The statement of financial position (balance sheet) is shown below (all figures in the question are in thousands of USD)

All assets and liabilities of S Limited were recorded at fair value at the acquisition date. Non-controlling interest are valued at their proportionate share of the identifiable net assets of S Limited.

The group figure for plant, property and equipment at 1 January 2016 is?

4. Use the following information to answer questions 1 : 8.

On 1 January 2016 P Limited acquired 60% of the equity shares of S Limited. The statement of financial position (balance sheet) is shown below (all figures in the question are in thousands of USD)

All assets and liabilities of S Limited were recorded at fair value at the acquisition date. Non-controlling interest are valued at their proportionate share of the identifiable net assets of S Limited.

The group figure for share capital at 1 January 2016 is?

5. Use the following information to answer questions 1 : 8.

On 1 January 2016 P Limited acquired 60% of the equity shares of S Limited. The statement of financial position (balance sheet) is shown below (all figures in the question are in thousands of USD)

All assets and liabilities of S Limited were recorded at fair value at the acquisition date. Non-controlling interest are valued at their proportionate share of the identifiable net assets of S Limited.

The group figure for investment at 1 January 2016 is?

6. Use the following information to answer questions 1 : 8.

On 1 January 2016 P Limited acquired 60% of the equity shares of S Limited. The statement of financial position (balance sheet) is shown below (all figures in the question are in thousands of USD)

All assets and liabilities of S Limited were recorded at fair value at the acquisition date. Non-controlling interest are valued at their proportionate share of the identifiable net assets of S Limited.

The group figure for total assets at 1 January 2016 is?

7. Use the following information to answer questions 1 : 8.

On 1 January 2016 P Limited acquired 60% of the equity shares of S Limited. The statement of financial position (balance sheet) is shown below (all figures in the question are in thousands of USD)

All assets and liabilities of S Limited were recorded at fair value at the acquisition date. Non-controlling interest are valued at their proportionate share of the identifiable net assets of S Limited.

The journal entry to record the acquisition at 1 January 2016 include.

8. Use the following information to answer questions 1 : 8.

On 1 January 2016 P Limited acquired 60% of the equity shares of S Limited. The statement of financial position (balance sheet) is shown below (all figures in the question are in thousands of USD)

All assets and liabilities of S Limited were recorded at fair value at the acquisition date. Non-controlling interest are valued at their proportionate share of the identifiable net assets of S Limited.

The worksheet entry at 1 January 2016 include.

9. H owns 70% of the voting shares of S1 which in turn owns 30% of S3. H also owns 60% of S2 which in turn owns 40% of S3.

Which of the following statement is true regarding S3?

10. N owns 75% of the voting shares of D1 which in turn owns 30% of D3. N also owns 22.5% of D3.

Which of the following statement is true regarding D3?