Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
At 1 January 20X9 Penguin plc paid $1.2m for an 80% share in Platypus Ltd. Platypus Ltd's net assets at the date of acquisition were:
$'000
Share capital
500
Retained earnings
850
Revaluation surplus
450
It is group policy is to measure non-controlling interests at acquisition at fair value. The fair value of the non-controlling interest at the date of acquisition was $400,000.
Statements of profit or loss for both companies for the year ended 31 December 20X9 were:
Penguin
Platypus
Revenue
12500
2,600
Cost of sales
(7400)
(1,090)
Gross profit
5100
1,510
Distribution costs
(700)
(220)
Administrative expenses
(1300)
(550)
Finance costs
(40)
-
Profit before tax
3060
740
Income tax expense
(900)
(230)
Profit for the year
2160
510
Required
Calculate the goodwill on acquisition and prepare the consolidated statement of profit or loss of the Penguin Group for the year ended 31 December 20X9.
Find how much is included in the gross estate if the 2032 election is not made and Evaluate how much is included in Arlene's gross estate?
Find what is Justin's adjusted tax basis for his partnership interest immediately after the partnership is formed and evaluate what is the partnership's adjusted basis for the property contributed by Justin?
qarts corporation provides a generous employee compensation package that adds employee stock options. the exercise
Analysis and prioritization of unit objectives without reference to prior period budget allowances.
the ryan hunt company uses the dollar-value lifo method of computing inventory.nbsp an external price index is used to
Motor has no market for the 20,000 motors if they are not transferred to Assembly. Variable selling and administrative costs are incurred on both internal and external sales.
Journalize the entries to record the operations, identifying each entry by letter. Compute the July 31 balances of the inventory accounts. Compute the July 31 balances of the factory overhead accounts.
What transfer price would you recommend and why and what transfer price would you recommend if the Battery Division is now selling 1,000,000 batteries a year to retail outlets?
Discuss any trends in the net cash provided in operating, investing and financing activities for Home Depot and Lowes in FYE2008.
The production supervisor estimates that the ending work in process is 60 percent complete on April 30. Compute the cost of chocolate completed and the cost of the chocolate in work-in-process ending inventory as of April 30.
Value the cost of the acquisition
What would be effect on an employee of the proposed change in company policy for paying its salaries starting for December 2012.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd