Chapter 23
KAPLAN PUBLISHING
509
Required:
Task 1:
(a)
Choose the correct calculation of goodwill upon acquisition of
YZ.
(2 marks)
Selected
answer
(i)
$400,000 + $100,000 – ($250,000 + $100,000 +
$40,000)
(ii) $400,000 – $100,000 – ($250,000 + $100,000 +
$40,000)
(iii) $400,000 + $100,000 – ($250,000 + $100,000 –
$40,000)
(b)
Identify which one of the following would be the correct
classification for goodwill in the consolidated statement of
financial position.
(1 mark)
Selected
answer
(i) A tangible non-current asset
(ii) An intangible non-current asset
(iii) A
current
asset
Task 2
Complete the following table to state at what amount each of the
following items should be included in the consolidated statement of
financial position at 31 December 20X7.
(5 marks)
$000
(i)
Property, plant and equipment
(ii) Inventories
(iii) Trade
receivables
(iv) Trade and other payables
(v) 7% Bank loan 20X9
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