Accouting

1. particularise consolidated financial statements. (1 mark)

2. limn control. (1 Mark)

3. Define a group. (1 Mark)

4. Define a parent. (1 Mark)

5. Define a subsidiary. (1 Mark)

6. Where an investment is fuckd at cost, when does the investor recognise income from that investment? (1 Mark)

7. What are sepa count financial statements? (1 Mark)

8. Which parents are require to prepare consolidated financial statements? (1 Mark)

9. On 1 July 2008, levy Ltd acquired all the partakes in Sub Ltd for $400,000 on a semen dividend basis. At attainment date, the book candour of Sub Ltd consisted of: $200,000 share capital and $100,000 retained earnings. The fair harbor of land was $110,000 (carrying total $100,000) and fair value of the equipment was $330,000 (cost $340,000 and carrying amount $310,000) in the books of the subsidiary. Recorded grace of God of the subsidiary was $5,000. The subsidiary also save a dividend payable of $10,000 at acquirement date. Journalise the entry to record the business combine by Parent Ltd. The tax rate is 30%. (1 Mark)

10. On 1 July 2008, Parent Ltd acquired all the shares in Sub Ltd for $400,000 on a cum dividend basis.



At acquisition date, the book equity of Sub Ltd consisted of: $200,000 share capital and $100,000 retained earnings. The fair value of land was $110,000 (carrying amount $100,000) and fair value of the equipment was $330,000 (cost $340,000 and carrying amount $310,000) in the books of the subsidiary. Recorded goodwill of the subsidiary was $5,000. The subsidiary also recorded a dividend payable of $10,000 at acquisition date. Prepare the acquisition analysis for the consolidated entity on 1 July 2008. The tax rate is 30%. (2 Marks)

11. On 1 July 2008, Parent Ltd acquired all the shares in Sub Ltd for $400,000 on a cum dividend basis. At acquisition date, the book equity of Sub Ltd consisted of: $200,000 share capital and $100,000 retained earnings. The fair value of land was...If you want to get a full essay, order it on our website: Ordercustompaper.com



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