What is the value of investment in associate shown in the consolidated statement of financial position as at 31 December 2020?

Q: Bramble Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31,…

A: ASC 323-10 provides guidance for accounting of income and dividends received from investees in case…

Q: On January 2, 2020, Gamu Company purchased as a long term investment 10,000 ordinary shares of…

A: Solution: Cost of investment for Gamu = 10000*P70 = P700,000 Sale value of investment for Gamu =…

Q: 5. On June 1, 2020, Ping Corp. purchased 10,000 of Pong’s 50,000 outstanding shares at a price of…

A: solution given Date of purchase of share June 1 2020 Number of total share of pong 50000…

Q: The entry to record the declaration of the dividend would include a debit to Retained Earnings of

A: Given that: Purchase price of 20,000 shares = P300,000 Market price of shares = P500,000

Q: On December 31, 2020, DEF, Inc. holds 100,000 shares of Devin Company with market value of…

A: Gain or loss is the amount of money gained or lost on investment. If the money invested give more…

Q: What is the cost of investment that will be used in the goodwill calculation in the consolidated…

A: The difference between the amount of consideration transferred to acquiree from acquirer and net…

Q: On January 2, 2020, Hanz Corporation bought 30% of the outstanding ordinary shares of Eve…

A: The following computations are done for Hanz Corporation.

Q: On 30 June 2021 Bee acquired 800,000 of Cee’s 1 million shares Bee issued 3 shares for every 4…

A: As per the given information: Shares acquired by Bee - 800,000 of Cee's 1 million shares Bee issued…

Q: Boxer Company owned 20,000 shares of King Company that were purchased in 2019 for $500,000. On May…

A:

Q: On July 1, 2021, JKJ Corporation purchased 100 common shares of JMK Ltd. at $20 per share. JKJ…

A: Solution: As shares are expected to be sold with in a year, therefore investment should be…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: Since the Parent acquired 30% interest in the Sub, the Sub is an associate enterprise. Accounting…

Q: Soprano Co. acquired 50,000 ordinary shares of Alto Co. on September 30, 2019 for P8,250,000. On…

A: Stockholders’ equity is the measure of assets staying in a business after the sum total of the…

Q: 4. MANGO Company acquired 4,000 shares of KIWI Corporation ordinary shares on April 2, 2020 at a…

A: Held for trading investments are those, which are purchased for the purpose of selling in the short…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: When an investment in an entity increases and it is increased to the level that the investee company…

Q: Panda Bhd is a company that listed on Bursa Malaysia. It has finally succeeded in acquiring a…

A: On 01.04.2020, Panda purchased shares in Stone = 44680 shares Total shares of Stone = 55850 shares…

Q: BOY Co. acquired 50,000 ordinary shares of GIRL Co. on September 30, 2019 for P8,250,000. On October…

A: 1. Details of GIRLS Co. shares held by BOYS Co. before and after the share split. Date Cost of…

Q: 1. On 1 January 2019, Pitty Ltd purchased 30% of the shares in Annah Ltd for P700, 000. At this…

A: Value of net assets of annah ltdas on 31/12/2019.                       P1500000       30% of net…

Q: Pangan Corp. acquired 4,000 shares of Agustin, Inc. ordinary shares on Oct. 20, 2018 for P660,000.…

A: Answer with explanation are as follows

Q: On January 1, 202X, Anna Corporation acquires 60% of the equity capital of Papa Corporation. On this…

A: NOTE : As per BARTLEBY guidelines, when multiple sub parts are given, then first three sub parts are…

Q: Trump Ltd acquired all the assets and liabilities of Bush Ltd on 30 June 2020. The purchase…

A:

Q: On January 2, 2022, MAMBA Inc. purchased 5,000 shares of the 20,000 shares outstanding of BLACK…

A: Acquiring the outstanding common shares of a company gives the ownership rights to the buyer. The…

Q: Required: Calculate the goodwill on consolidation for the ultimate parent using the single stage…

A: Solution:- Calculation of Non-Controlling interest in Zeneca Bhd :- Ordinary share capital = RM…

Q: Princess Corp. purchased 100,000 ordinary shares at P80 per share on January 1, 2020. These shares…

A: The ordinary shares means the shares whose shareholders have the right to participate in the…

Q: Warsaw Ltd acquired 60% of the ordinary shares of Krakow Ltd on 1 September 2020 when the issued…

A: Issue of One Million Shares @ 2.20 = €2.53 million Cash Payment = €330,000 Issued share capital = €3…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: As per PFRS 3, Business combination, On acquisition of control, to adopt the acquisition method of…

Q: On January 1, 2023, Japan Company acquired 50,000 shares of David Company ordinary shares for a…

A: Preference shares are those shares whose holders are having priority over the common ordinary shares…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: Here,  Parent acquired 30% interest in Subsidiary on January 1, 2018. Since the parent acquired…

Q: Sydney Ltd purchased 20% of the shares in Melbourne Ltd on 1 July 2019 for $250,000. During the year…

A: Sydney Ltd would recognised 20% of the dividends declared and paid as revenue for the year ending 30…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: Working note: Computation of fair value of the existing investment on July 1, 2018: Fair value of…

Q: Koreans Ltd owned 300,000 of Marley Ltd shares. On 31 December 2019, when Koreans' account…

A: The shareholders' equity is reduced by canceling shares and repurchasing shares called buybacks.…

Q: For the next (2) two questions: STU Company purchased 10,000 shares representing 2% ownership of…

A: The income statement of a company represents the outcome of the operations of the business in terms…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: SOLUTION- GOODWILL IS THE VALUE OF BUSINESS THAT EXCEEDS ITS ASSETS MINUS THE LIABILITIES.

Q: . On October 1, 2020, VIOLETS was granted the right to purchase 1 share at ₱105 for every 4 rights…

A: Cash dividend is a cash declared and distributed by a company to equity shareholders in the form of…

Q: After all closing entries for 2020 are completed, the effect of the increase in fair value on total…

A: Purchase price =10000*6=60000 Earnings =3000 Share holders equity is same , does not change.

Q: On 1s January 2020, Khairul Bhd acquired 20,000 shares in Amin Bhd for RM 80,000. This gave Khairul…

A: 20000 shares for RM80000 on 01.01.2020

Q: hares of POPPY Company par ₱100 at ₱120 in March 2020 VIOLETS received a share dividend of 1 share…

A: Average unit cost is calculated by the total cost or investment divided by the total number of unit…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: SOLUTION GOODWILL IS AN INTANGIBLE ASSET THAT ACCOUNTS FOR THE EXCESS PURCHASE PRICE OF ANOTHER…

Q: rifles Ltd acquired 280,000 shares in Bamburg Ltd on 01 July 2019 and as a result Trifles Ltd has a…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: On January 1, 2018, Parent acquired 30,000 out of 100,000 outstanding ordinary shares of Sub for…

A: SOLUTION WORKING- HIGHER BETWEEN TWO: FAIR VALUE = 50000. FAIR VALUE PROPORTIONATE SHARE…

Q: HHT Bhd has a portfolio of diversified investments. In 2020, the company made investments in two…

A: Classification of Financial Assets stipulated in MFRS 9 Classification of the financial assets…

Q: n January 2, 2020. Tuao Company purchased 10% of Abulug Company's outstanding ordinary shares for…

A: Solution: As Tuao company is having significant influence over Abulug company, therefore equity…

Q: Required: a) Prepare an acquisition analysis for Trump Ltd’sacquisition of the net assets of Bush…

A: Step 1 Business combination is the business acquisition when one firm acquires another firm.

Q: Shakey Corporation owned 30,000 Ordinary shares of Macdo Corporation purchased in 2019 for P…

A: A property dividend is a type of dividend that replaces cash or stock dividends by giving…

Q: On December 1, 2020, Citrus purchased 200,000 shares representing 45 percent of the outstanding…

A: Citrus long term investment in Berry should be shown in Citrus December 31, 2020, statement of…

Q: Trump Ltd acquired all the assets and liabilities of Bush Ltd on 30 June 2020. The purchase…

A: When one company purchases another company's more than 50% stock and asset in order to gain control…

Q: In October 2018, TLT Bhd decided to invest its idle cash in the shares of SGS Bhd. Therefore, on 1…

A: Investment Valued through Profit and Loss: Under the IFRS 9, financial assets are measured through…

Q: For the next (2) two questions: STU Company purchased 10,000 shares representing 2% ownership of…

A: The journal entries can be defined as the base of accounting because the business transaction is…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.