3/5/23, 11:45 PM ACC 312: Activity 1

ACC 312: Activity 1

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Part 2: Consolidation (At and Subsequent to Acquisition Date) (PFRS 10)

What is the initial measurement of noncontrolling interest in net assets in * 1 point

the consolidated statement of financial position?

320,000

300,000

250,000

316,000

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3/5/23, 11:45 PM ACC 312: Activity 1

Refer to previous problem. What is the goodwill or gain on bargain purchase * 1 point

arising from business combination?

250,000 gain on bargain purchase

150,000 gain on bargain purchase

50,000 goodwill

200,000 gain on bargain purchase

Assuming Arden Company acquired 80% of the outstanding shares of * 1 point

Wonder Company for P820,000 and non-controlling interest is measured at
the proportionate share of Wonder Company’s identifiable net assets, how
much is the consolidated stockholder’s equity on the date of acquisition?

8,460,000

8,738,000

8,679,600

8,737,200

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3/5/23, 11:45 PM ACC 312: Activity 1

Assuming Arden Company acquired 90% of the outstanding shares of * 1 point

Wonder Company for P1,458,000 and non-controlling interest is measured
at fair value, how much is the total consolidated assets on the date of
acquisition?

9,252,000

10,710,000

10,422,000

8,964,000

What is the non controlling interest in profit of Signage Company on * 1 point

December 31, 2013?

21,000

13,800

18,750

18,600

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3/5/23, 11:45 PM ACC 312: Activity 1

Refer to previous problem. What is the consolidated profit attributable to * 1 point

parent shareholders on December 31, 2013?

340,200

360,000

336,000

356,400

Refer to previous problem. What amount of non-controlling interest is to be * 1 point

presented in the consolidated statement of financial position on December

31, 2013?

164,250

145,500

166,800

154,500

Refer to previous problem. What is the consolidated retained earnings * 1 point

attributable to parent’s shareholders equity on December 31, 2013?

1,757,400

2,079,750

1,762,200

1,758,000

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3/5/23, 11:45 PM ACC 312: Activity 1

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