Corrigendum and Extension to Test Banks of Advanced

Financial Accounting: An IAS and IFRS Approach (2nd

Edition)
Chapter
3

Question No.
1 (Solution test
bank)
7 (Solution test
bank)

11

9 (Question test
bank)
4 (Solution test
bank)
9 (Solution text
bank)

9 (Solution text
bank)
1 (Solution test
bank)
5 (Solution test
bank)
7 (Question test
bank)
4 (Solution test
bank)
4 (Additional
information 3)
(Question test
bank)
New questions
inserted
3 (Solution test
bank)
New questions
inserted
1 (Question test
bank)

8 Jan 2015

Corrections and Extensions

The PV of the deferred payment of $825,000 @ 5% for 1 year in the
answer should be $785,714.29.
Answers have been changed
The derived goodwill is a gain on bargain purchase. Answers have been
changed to indicate that the goodwill is a gain on bargain purchase
(credited to retained earnings).
The retained earnings in the balance sheet should be 370,000 (not
$374,000) and the accounts payable should be $90,000 (not $86,000)
CJE3a: Tax effects of CJE: inserted the missing 10,000 for tax expense.
Answers are correct but typo errors in the side workings:
Change Goodwill attributable to parents share:
(360000 60%* 524000) to (360000 60%* 424000)
Change Goodwill attributable to NCI's share: from (240000 40% *
524000) to (240000 40% * 424000)
CJE2a: Tax effects of CJE2: Inserted the missing figure of 800 for NonControlling Interest
Missing answer for Question 1(a) now inserted
Missing answer for Question 5(a) now inserted
Incorrect match of answer with question. Please note the overall change in
the question.
Bond amortization table in Question 4 (a) (i) has been changed
Calculation error made in Loss on sale recorded by Sapphire Co in 20x6.
Solutions are correct.

Question 5 to Question 10
(Question and Solution test bank)
CJE2 in solution has been amended
Question 5 to Question 14
(Question and Solution test bank)
Incorrect match of answer with question. Please note the overall change in
the question.

Corrigendum and Extension to Test Banks of Advanced

Financial Accounting: An IAS and IFRS Approach (2nd
Edition)
7 (Question test
bank)

Information on investment property:

Correction of typographical error of fair value adjustment of investment
property in 31 December 20x3 from ($750,000) to $750,000. Solutions
are correct.

We apologize for the errors and will appreciate feedback on any discrepancy or typographical error.
Authors

8 Jan 2015