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Assignement Questions : Associate

WORKING

1 INVESTMENT IN A

GOODWILL

$!onsi"e#ation T#anse##e" %&'()

*ai# +a,ue at net assets

S-a#e ca.ita, 1')

Retaine" ea#nings %')

*ai#+a,ue a"/ustment 0 Lan"

2010%3 2') 2')3 %')3

4 56   7,500.00

2 G#ou. Retaine" Ea#nings 7ea# en" 8

8 2%2'()

s 8ost ac9n ; < 56 =%'5)

320,900.00

a3 !onso,i"ate" Income Statement o# 8 g#ou.

$

Re+enue 1'2')

!ost 1'%')3

8#o>t 12')

s-a#e o .#o>t #om Associate 0 A

56 4 ; ?13 =%'5)

Net .#o>t   158,400.00

@3 Statement o *inancia, 8osition o# 8 g#ou.

8#o.e#t7' 8,ant an" E9ui.ment &')

In+estment in A

%&'( =%'53 12(')%2(')

!u##ent assets 22')

 Tota, assets   1,045,900.00

S-a#e !a.ita, 2(')

Retaine" ea#nings W23

2%2( =%' 53 =2')

(&')

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Lia@i,ities 5&(')

1,045,900.00