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Section: Set: A
Subject: ACCTG 410 Date:
Mar. 1 Sold 15,000 shares of Camias Co. ordinary shares at P93, less
brokerage commission of P13,500.
April 1Bought 1,800 ordinary shares of Waston, Inc. at P135 plus
commission, taxes, and other transaction costs of P4,950.
4. What is the gain on the sale of Camias Co. ordinary shares on March
1, 2016?
A. P144,000 B. P27,000 C. P130,500 D. P13,500
Audit notes:
Required:
The fair value of the net assets of the investee is equal to the
carrying amount except for an equipment whose fair value exceeds
carrying amount by P4,000,000. The equipment has a remaining life of 5
years.
The investee reported net income of P8,000,000 for 2015 and paid
dividend of P5,000,000 on December 31, 2015.
10. What is the goodwill arising from the acquisition on January 1, 2015?
A. P2,250,000 B. P1,250,000 C. P1,350,000 D. P350,000
The fair value of the net assets of the investee is equal to carrying
amount except for an equipment whose fair value was P4,000,000 greater
than carrying amount. The equipment had a remaining life of 5 years.
The investee reported net income of P8,000,000 for 2017 and paid dividend
of P5,000,000 on December 31, 2017.
a. 400,000
b. 100,000
c. 500,000
d. 300,000
13. What is the implied goodwill arising from the acquisition on January
1, 2017?
a. 3,000,000
b. 2,000,000
c. 2,500,000
d. Nil
a. 2,000,000
b. 2,500,000
c. 2,300,000
d. 1,800,000
a. 12,550,000
b. 12,350,000
c. 11,950,000
d. 12,750,000
Bonus:
Compare Financial Assets at FVPL and Financial Assets at FVOCI. 3 points
What is Equity Method? 2 points
Explain significant influence. 2 points
-END OF EXAMINATION-