Soft Bound Version for Advanced Accounting 13th Edition
13th Edition
ISBN: 9781260110579
Author: Hoyle
Publisher: McGraw Hill Education
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Chapter 2, Problem 20P
In the December 31, 2017, consolidated balance sheet of Patrick and its subsidiary, what amount of total stockholders’ equity should be reported?
- a. $1,100,000
- b. $1,125,000
- c. $1,150,000
- d. $1,355,000
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Following are the Balance Sheets of A Ltd. and its subsidiaries B Ltd. and C
Ltd. as on 31st March, 2016:
C Ltd.
A Ltd.
$
B Lta.
$
$
I. Equity and Liabilities
(1) Shareholders' Funds
(a) Share Capital
Shares of
100 each
12,50,000 | 10,00,000
6,00,000
(b) Reserves and Surplus :
1,80,000
1,60,000
1,00,000
20,000
72,000
51,000
Reserves
Surplus Account
(2) Current Liabilities
Sundry Creditors
1,03,000
1,20,000
Total Equity and Liabilities
16,93,000 | 12,40,000
7,23,000
II. Assets
(1) Non-current Assets
Fixed Assets
2,80,000
5,50,000
3,75,000
(2) Current Assets
5,30,000
Investments at Cost
Stock in Trade
10,30,000
1,20,000
2,63,000
Sundry Debtors
1,60,000
3,48,000
Total Assets
16,93,000| 12,40,000
7,23,000
(a) The break-up of investments, which were all made on 30th September, 2015, is as under:
(i) A Ltd. held-
7,500 shares in B Ltd. at a cost of 8,50,000 and 1,500 shares in C Ltd. at a cost of 1,80,000.
(ii) B Ltd. held-
4,000 shares in C Ltd. at a cost of 5,30,000.
(b) (i) Sundry…
The Wondai Ltd Croup reports the following balances in its consolidated financial statements for
the year ending 30 June
Financial year
2018 $ 2017 $
Buildings
524,000
268,000
ACC Depr. - Buildings
190,000 143,000
Depr Expense - Buildings
50,000 23,000
On1 July 2017. the Wondai Ltd Group acquired 80%. the shares in Yallingup Ltd. which recorded
the following account balances at that date:
1 July 2017 $
Buildings
80,000
Acc Depr.- Buildings
32,000
During the year ended 30 June 2018, the Wondai Ltd Group disposed of buildings with a carrying.
amount of $63,000
Required: Calculate the amount of consolidated cash flows from investing activities in relation to
the purchase of buildings for the year ending 30 June 2018
Condensed statement of financial position of Bigbang Corp. and 2ne1 Corp. as of December 31,2016 are as follows:
BIGBANG
2NE1
Current assets
43,750
16,250
Noncurrent assets
181,250
106,250
Total assets
225,000
122,500
Liabilities
16,250
8,750
Common stock, P20 par
137,500
75,000
Additional Paid In Capital
8,750
6,250
Retained earnings
62,500
32,500
On January 1, 2017, Bigbang Corp. issued 8,750 stocks with a market value of P25/share for the assets andliabilities of 2ne1 Corp. The book value reflects the fair value of the assets and the liabilities, except that the noncurrent assets of 2ne1 has a temporary appraisal of P 157,500 and the non-current assets of Bigbang areoverstated by P 7,500. Contingent consideration, which is determinable, is equal to P 3,750. Bigbang also paidfor the stock issuance costs worth P 8,500 and other acquisition costs amounting to P 4,750. On March 1, 2017the contingent consideration has a determinable amount of P 5,000. On…
Chapter 2 Solutions
Soft Bound Version for Advanced Accounting 13th Edition
Ch. 2 - Prob. 1QCh. 2 - Prob. 2QCh. 2 - What does the term consolidated financial...Ch. 2 - Within the consolidation process, what is the...Ch. 2 - Prob. 5QCh. 2 - Prob. 6QCh. 2 - Prob. 7QCh. 2 - Prob. 8QCh. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Prob. 11QCh. 2 - Which of the following does not represent a...Ch. 2 - Prob. 2PCh. 2 - Prob. 3PCh. 2 - Prob. 4PCh. 2 - Prob. 5PCh. 2 - An acquired entity has a long-term operating lease...Ch. 2 - When does gain recognition accompany a business...Ch. 2 - Prob. 8PCh. 2 - Prob. 9PCh. 2 - Prob. 10PCh. 2 - On June 1, Cline Co. paid 800,000 cash for all of...Ch. 2 - On May 1, Donovan Company reported the following...Ch. 2 - Prob. 13PCh. 2 - Prob. 14PCh. 2 - Prob. 15PCh. 2 - Prob. 16PCh. 2 - On its acquisition-date consolidated balance...Ch. 2 - On its acquisition-date consolidated balance...Ch. 2 - Problems 19 and 20 are based on the following...Ch. 2 - In the December 31, 2017, consolidated balance...Ch. 2 - Prob. 21PCh. 2 - The following book and fair values were available...Ch. 2 - Prob. 23PCh. 2 - Prob. 24PCh. 2 - Prob. 25PCh. 2 - Prob. 26PCh. 2 - Prob. 27PCh. 2 - Prob. 28PCh. 2 - Prob. 29PCh. 2 - Prob. 30PCh. 2 - Prob. 31PCh. 2 - SafeData Corporation has the following account...Ch. 2 - Prob. 33PCh. 2 - Prob. 34PCh. 2 - Prob. 35APACh. 2 - On February 1, Piscina Corporation completed a...Ch. 2 - Prob. 37APBCh. 2 - Prob. 38APBCh. 2 - Prob. 1DYSCh. 2 - Prob. 2DYSCh. 2 - Prob. 3DYSCh. 2 - Prob. 4DYS
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