On 30 June 20X2, H acquired 80% of the share capital of S. The non-controlling interest...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On 30 June 20X2, H acquired 80% of the share capital of S. The non-controlling interest had a fair value of $1,300,000. Extracts from the statement of financial position of S at 30 June 20X2 and 30 June 20X6 are shown below: Statement of financial position Ordinary share capital Share premium account Retained earnings 30 June 20X2 $ 1,000,000 A $1,220,000 B $1,300,000 C $1,480,000 D $1,400,000 400,000 4,700,000 30 June 20X6 $ 1,000,000 400,000 5,600,000 4 What figure for non controlling interest should appear in the consolidated statement of financial position as at 30 June 20X6? On 30 June 20X2, H acquired 80% of the share capital of S. The non-controlling interest had a fair value of $1,300,000. Extracts from the statement of financial position of S at 30 June 20X2 and 30 June 20X6 are shown below: Statement of financial position Ordinary share capital Share premium account Retained earnings 30 June 20X2 $ 1,000,000 A $1,220,000 B $1,300,000 C $1,480,000 D $1,400,000 400,000 4,700,000 30 June 20X6 $ 1,000,000 400,000 5,600,000 4 What figure for non controlling interest should appear in the consolidated statement of financial position as at 30 June 20X6?
Expert Answer:
Related Book For
International Financial Reporting And Analysis
ISBN: 9781473766853
8th Edition
Authors: David Alexander, Ann Jorissen, Martin Hoogendoorn
Posted Date:
Students also viewed these accounting questions
-
H Ltd acquired 75 per cent of the share capital of S for 280,000 on 1 January 20X3. Goodwill arising on consolidation has been fully impaired. Details of the share capital and retained earnings of S...
-
The following data were taken from the statement of financial position accounts of Murless SA on December 31, 2022. Current Assets...
-
Sarah Limited leased a machine which had a fair value of $57,030 to Jane Limited on 30 June 2018 with the following terms: Lease term 4 years Annual Rental Payment in arrears starting from 30 June...
-
Vehicles begin arriving at Allen fieldhouse at 6:30 PM, at a constant rate of 4 per minute. One gate opens at 7:00 PM and processes cars at a rate of 5 vehicles per minute. At 7:10 PM, a second gate...
-
List four types of tools the analyst needs to use to develop systems.
-
The upper 30% for a N(48, 5) distribution converted to a standard normal distribution Ask you to convert an area from one normal distribution to an equivalent area for a different normal...
-
Calculate the median for each of the following sets of data: a. 2, 2, 3, 4, 6, 9,9 b. 7, 7, 8, 12, 13, 14, 17, 21, 23 c. 11, 6, 3, 14, 12, 15, 8, 10, 7 d. 9, 6, 7, 5, 8, 7, 8, 9, 10, 8, 7 e. 10, 13,...
-
For the sample data provided in Problem 3-13, construct an x-chart in conjunction with the R-chart, plot the sample observations, and, using both x- and R-charts, comment on the process control.
-
How is General Electric case using analytics for process improvement?
-
In a survey, adults were asked to answer yes or no to the question Do you regularly watch the evening TV news? Some of the results from the survey are detailed in the Venn diagram opposite. One adult...
-
Other things being equal, do both companies appear to have the ability to meet their obligations as measured by the debt to equity ratio? Based solely on the Times Interest Earned ratio, do both...
-
How did Equifax prioritize the needs of stakeholders in their decision-making process in the case of the Data breach that occurred?
-
CirctBat Ltd produces high standard cricket bat in Australia and exports them to India.It also has an ongoing joint venture with an Indian firm that produces some sporting goods for a fee.CricBat is...
-
The current market price of a $ 1000 par bond is $ 1 , 025. Its semiannual coupon rate is 7 % and it matures in 5 years. What is the pretax cost of debt? What is the after-tax cost of debt using the...
-
Consider two stocks: WMT and IBM with the following properties Stock E(r) (r) WMT 8% 13% IBM 12% 20% The correlation of the two stock returns is WMT,IBM = 9% and the risk-free rate is rf = 1%. You...
-
Is it ethical for big organizations such as pharmaceutical companies to invest in corporate bonds. why or why not?
-
(8) Consider the series In(n) n=1 (a) Write the first five elements of the sequence of partial sums. (b) Is the sequence of partial sums monotonic, and if so is it non-increasing or non-decreasing?...
-
A. Select a recent issue (paper or online) of Report on Business Magazine, Canadian Business Magazine (online only), Bloomberg Businessweek, Fast Company, The Economist, or another business magazine....
-
The preparation of consolidated financial statements provides useful information to users. Discuss.
-
Are general indices more or less useful in financial reporting than specific price changes?
-
The statements of financial position for ST and UV as at 31 December 20X4 are provided below: Additional innformation: ST acquired 80 per cent of the ordinary shares of UV on 1 May 20X1 for...
-
Diehl Cleaners has the following statement of financial position items. Instructions Classify each item as an asset, liability, or equity. Analyze the effect of transactions. Accounts payable Cash...
-
Erin Danielle, the bookkeeper for Liverpool Ltd., has been trying to determine the correct statement of financial position for the company. The companys statement of financial position is shown...
-
Which of the following is true? a. Financial frauds have not occurred in U.S. companies because GAAP has detailed accounting and disclosure requirements. b. Transaction analysis is basically the same...
Study smarter with the SolutionInn App