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level: Acquisition Method

Questions and Answers List

level questions: Acquisition Method

QuestionAnswer
Acquisition Journal EntryDR: Common Stock (Sub @ NBV) DR: APIC (Sub @ NBV) DR: RE (Sub @ NBV) CR: Investment in Sub (Parent @ FV) CR: Non-Controlling Interest (*FV) DR: Balance Sheet Adjustments to FV DR: Identifiable Asset Adjustments to FV DR/CR: Goodwill/Gain (Plug)
Non-Controlling Interest Calculation (Partial Goodwill - IFRS ONLY)FV of Sub's Net Assets * NCI %
Non-Controlling Interest Calculation (Full Goodwill - IFRS and GAAP)(Investment in Sub @ FV / % Owned)*% NCI
How much of intercompany transactions should be eliminated if a company is acquired for 80%?100%, ALL intercompany transactions must be eliminated regardless of % acquired
JE to remove intercompany profit from Inventory SalesDR: Intercompany Sales (seller) CR: Intercompany COGS (seller) CR: COGS (purchaser) CR: Inventory (purchaser)
Excess depreciation from intercompany fixed asset sales should be increased/reduced to which rate?Old Rate