Multiple Choice

A merge entity is defined in the Corporations Act 2001 as: Choose one answer. a. The comp some(prenominal) and its subsidiaries at the end of the fiscal year. Subsidiaries are companies and trusts as defined in terms of this Act. b. A company, registered management investment scheme or disclosing entity together with any the entities it is required by Accounting Standards to include in amalgamated fiscal statements. c. A trust or partnership registered as a management investment scheme and all the entities it controls at the end of the monetary year. d. The parent company, minority interests and subsidiaries owned by that parent company as at the end of the financial year. e. None of the given answers. Candle Ltd acquires all the issued upper-case letter of candle Ltd for a cash payment of $4, five hundred,000 on 30 June 2004. The equaliser sheet of taper Ltd at purchase date is: ($000) Assets bills500 Accounts receivable190 Non-current assets4,20 0 primitive assets4,890 Liabilities Accounts payable 890 Loans1,000 Total liabilities 1890 carry onholders equity percent gravid 2,500 Retained requital500 Total liabilities and shareholders funds4,580 The good value of the net assets of candle Ltd as at 30 June 2004 is $3,800,000.

What is the consolidation entry to abolish the investment in Wick Ltd? Choose one answer. a. ($000) ($000) Dr function capital 2,500 Dr Retained winnings 500 Dr Goodwill 1,500 Cr investment in hyponym 4,500 b. ($000) ($000) Dr Non-current assets 800 Cr Asset recapitulation throw 800 Dr Share capital 2,500 Dr Retained earnings 500 Dr As! set revaluation relief 800 Dr Goodwill 700 Cr investment funds in subsidiary 4,500 c. $000 $000 Dr Non-current assets 800 Cr Retained earnings 800 Dr Share capital 2,500 Dr Retained earnings 1,300 Dr Goodwill 700 Cr Investment in subsidiary 4,500 d. $000 $000 Dr Non-current assets 800 Cr Asset revaluation reserve 800 Dr Share capital 2,500 Dr...If you unavoidableness to get a full essay, put up it on our website: OrderCustomPaper.com

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