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Which of the following amounts will GH debit to non controlling interest when the 20% acquisition is adjusted for in its consolidated financial statements at 31 December 20X6?
GH owned 70% of the equity share capital of XY at 1 January 20X6. GH acquired a further 20% of XY's equity share capital on 31 December 20X6 for $430,000. Non controlling interest was measured at $600,000 immediately prior to the 20% acquisition. Which of the following amounts will GH...
Which of the following journals will record this transaction?
ST has sold its main office property, which had a carrying value of $360,000, to AB, a property management entity. The property was sold for $400,000 which is equal to its fair value and was immediately leased back under an operating lease agreement. Which of the following journals will record...
What figure will be presented in GHI's consolidated statement of changes in equity for the year ended 31 December 20X4, in respect of dividends paid to non-controlling interest?
What figure will be presented in GHI's consolidated statement of changes in equity for the year ended 31 December 20X4, in respect of dividends paid to non-controlling interest?A . $25,000B . $125,000C . $100,000D . $0View AnswerAnswer: A
CORRECT TEXT
CORRECT TEXT EF has redeemable 10% bonds which are currently trading at $94.00 for each $100 of nominal value.Thebondscan be redeemed at par in five years' time. The corporate income tax rate is 22%. The present value of the cash flows associated with $100 nominal value of these bonds at...
What is the price earnings (P/E) ratio for RST at 30 April 20X9?
Information from the financial statements of RST for the year ended 30 April 20X9 is as follows: At 30 April 20X9 the ordinary shares are trading at $4.75. What is the price earnings (P/E) ratio for RST at 30 April 20X9?A . 15.83B . 7.92C . 10.56D . 9.31View AnswerAnswer:...
A group presents its financial statements in A$.
A group presents its financial statements in A$. The goodwill of its only foreign subsidiary was measured at B$100,000 at acquisition. There have been no impairments to this goodwill. Exchange rates (where A$/B$ is the number of B$'s to each A$) are as follows: The value of goodwill to be...
Which of the following would prevent the bank from lending the finance for the project in the form of a new bank loan?
GG's gearing is currently 50% compared to the industry average of 40% (both measured as debt/equity). GG's debt is all in the form of a single bank loan that is repayable in five years' time. The directors of GG are seeking to raise finance for a new project and they...
Which of the following is the correct calculation for basic earnings per share in accordance with IAS 33 Earnings Per Share?
CORRECT TEXT Which of the following is the correct calculation for basic earnings per share in accordance with IAS 33 Earnings Per Share?View AnswerAnswer: C
Which THREE of the following actions should improve the cash position of an entity?
Which THREE of the following actions should improve the cash position of an entity?A . Substituting a bonus issue for the final dividend.B . Selling non current assets and leasing them back under operating leases.C . Implementing an efficient inventory ordering system.D . Revaluing all non-current assets.E . Revising the...
Entity A entered into a 3 year operating lease on 1 April 20X3. The rentals are £5,000 a year payable in advance with an additional payment of $1,800 payable on 1 April 20X3.
Entity A entered into a 3 year operating lease on 1 April 20X3. The rentals are £5,000 a year payable in advance with an additional payment of $1,800 payable on 1 April 20X3. The rental expense to be included in the statement of profit or loss for the year ended...
