快速查题-ACCA英国注册会计师试题

Volcano Co acquired 75% of the equity share capital of Lava Co on 1 September 20X3. The retained profits of the two

individual companies at the beginning and end of their financial year were as follows.

Volcano Co Lava Co $’000 $’000

Retained earnings at 1 January 20X3 596 264

Retained earnings at 31 December 20X3 650 336

What is the parent company’s share of consolidated retained earnings that should be reported in the consolidated statement of financial position of the Volcano Group at 31 December 20X3?

Tin Co acquired 90% of the equity share capital of Drum Co on 1 April 20X3. The following information relates to the financial year to 31 December 20X3 for each company.

Tin Co $’000                                                                                 Drum Co $’000

Retained earnings at 1 January 20X3                          840          170

Profit for the year                                                           70            60

Retained earnings at 31 December 20X3                   910            230

Neither company paid any dividends during the year

What profit is attributable to the parent company in the consolidated statement of profit or loss of the Tin Group for the year to 31 December 20x3?

Sand Co acquired 80% of the equity share capital of Sun Co several years ago. In the year to

31 December 20X4, Sand Co made a profit after taxation of $120,000 and Sun Co made a profit after taxation of $35,000.

During the year Sun Co sold goods to Sand Co at a price of $40,000. The profit mark-up was 40% on the sales price. At 31

December 20X4, 25% of these goods were still held in the inventory of Sand Co.

What profit is attributable to the parent company in the consolidated statement of profit or loss of the Sand Group for the year

to 31 December 20X4?

On 1 August 20X7 Patronic purchased 18 million of the 24 million $1 equity shares of Sardonic. The acquisition was through a share exchange of two shares in Patronic for every three shares in Sardonic. The market price of a share in Patronic at 1

August 20X7 was $5.75.

What is the fair value of the consideration transferred for the acquisition of Sardonic?

X Co acquired 80% of the equity share capital in Y Co on 31 July 20X6. Extracts from the two companies' statements of profit or loss for the year ended 30 September 20X6 were as follows：

                                                              X Co                            Y Co 

                                                              $'000                           $'000

Revenue                                                3 400                          2 400

Cost of sales                                         1 500                           1 800

During the year ended 30 September 20X6, Y Co sold goods for $5 000 each month to X Co, at a mark up of 25%. At the end of the year X Co had 50% of these goods left in inventory.

What is the group gross profit for the year ended 30 September 20X6?

 WX acquired 75% of the equity share capital of YZ several years ago. At 31 March 20X6 WX had goods in inventory valued at cost of $60,000, that had been purchased from YZ at a mark-up of 20%.

What is the effect on the profit attributable to the non-controlling interest, and the profit attributable to the parent company for

the year ended 31 March 20X6?

Profit attributable to non-controlling interest Profit attributable to WX

 P owns 80% of the equity share capital of S The profit after tax of S for the year ended 31 December 20X6 was $60 million.

During 20X6, P sold goods to S for $4 million at cost plus 20%. At the year end 50% of these goods were left in the inventory

of S.

What is non-controlling interest share of the after-tax profit of S for the year ended 31 December 20X6?

Which of the following companies are subsidiaries of Gamma Co?

Zeta Co: Gamma Co owns 51% of the non-voting preference shares of Zeta Co Iota Co: Gamma Co has 3 representatives on the board of directors of Iota Co. Each director can cast 10 votes each out of the total of 40 votes at board meetings.

Kappa Co: Gamma Co owns 75% of the ordinary share capital of Kappa Co, however Kappa Cois located overseas and is

subject to tax in that country.

The statements of financial position of the two companies at 31 December 20X3 were as follows:

There have been no changes in the share capital or share premium account of either company since 1 January 20X3. Th

e fair value of the non-controlling interest on acquisition was $65,000.

What figure for goodwill on consolidation should appear in the consolidated statement of financial position of the Hilton group

at 31 December 20X3?

 What figure for non-controlling interest should appear in the consolidated statement of financial position of the Hilton group at 31 December 20X3?