Reference no: EM133031209
Question - On January 1, 2020, Ayayai Corporation, a public company following IFRS, acquired 15,300 of the 51,000 outstanding common shares of Noah Corp. for $25 per share. Noah's statement of financial position reported the following information at the date of the acquisition:
Assets not subject to depreciation $285,000
Assets subject to depreciation 868,500
Liabilities 146,500
Additional information:
1. On the acquisition date, the fair value is the same as the carrying amount for the assets that are not subject to depreciation and for the liabilities.
2. On the acquisition date, the fair value of the assets that are subject to depreciation is $948,500. These assets had a remaining useful life of eight years at that time.
3. Noah reported 2020 net income of $80,000 and paid dividends of $3,800 in December 2020.
4. Noah's shares are not actively traded on the stock exchange, but Ayayai has determined that they have a fair value of $24 per share on December 31, 2020.
Required -
1- Prepare the journal entries for Ayayai Corporation for 2020, assuming that Ayayai cannot exercise significant influence over Noah and accounts for the investment at FV-OCI.
2- Prepare the journal entries for Ayayai Corporation for 2020, assuming that Ayayai can exercise significant influence over Noah's operations.
3- Prepare the 2020 journal entries if Ayayai Corporation were a private company applying ASPE.
|
Explain the roles of an accountant in each of the phases
: Explain the roles of an accountant in each of the phases in SDLC. Justify the need for an accountant to understand the SDLC process
|
|
Determine the binomial standard deviation red jelly beans
: 1.) For selecting red jelly beans from a jar, given the probability of success of selecting red jelly bean is 0.96, jelly beans are randomly selected, determine
|
|
What amount will Peloton assign to the equity feature
: The net present value of the debt without the conversion feature is 1,9000,000. What amount will Peloton assign to the equity feature of these bonds
|
|
How can the company minimize the cost
: Princess company make 3 product: A, B, and C. to produce each unit of A costs P176, each unit of B costs P88, and each units of C costs P44.
|
|
Prepare the journal entries for Ayayai Corporation
: Prepare the journal entries for Ayayai Corporation for 2020, assuming that Ayayai can exercise significant influence over Noah's operations
|
|
Prepare the journal entries on January
: The lease term is five years, non-cancellable, and requires equal rental payments of $56,926. Prepare the journal entries on January
|
|
What is the maximum number of batches of cookies
: Monica Summer, a student at FIU, found her allowance insufficient to meet her needs and wanted to make some money. Living in a dormitory with 1200 other student
|
|
What is the probability of all physicians being idle
: a) What is the probability of all physicians being idle? Child. CARE is a walk-in pediatric clinic. Patients arrive at Child.CARE at a rate of 8 per hour accord
|
|
What is the NPV for the flexible manufacturing system
: The system will cost $750,000 and will last ten years. The company's cost of capital is 10%. What is the NPV for the flexible manufacturing system
|