江西财经大学高级财务会计国际学院题库chapter09Word文档格式.docx
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江西财经大学高级财务会计国际学院题库chapter09Word文档格式.docx
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A)$808,000.
B)$848,000.
C)$920,000.
D)$960,000.
Usethefollowinginformationtoanswerthequestion(s)below.
PaintCorporationowns82%ofAchilleCorporationandAchilleCorporationowns80%ofBadrackCorporation.Forthecurrentyear,theseparatenetincomes(excludinginvestmentincome)ofPaint,Achille,andBadrackare$120,000,$100,000,and$50,000,respectively.Thecostofeachinvestmentwasequaltothebookvalueoftheinvestment,whichwasalsoequaltothefairvalue.
3)NoncontrollinginterestshareforBadrackis
A)$9,000.
B)$10,000.
C)$20,000.
D)$40,000.
Explanation:
B)(0.20×
$50,000=$10,000)
4)NoncontrollinginterestshareforAchilleis
A)$18,000.
B)$25,200.
C)$36,200.
D)$72,000.
B)[$100,000+(0.80)×
($50,000)]×
18%=$25,200
5)ControllinginterestshareofconsolidatednetincomeforPaintCorporationandSubsidiariesis:
A)$234,800.
B)$244,800.
C)$260,000.
D)$270,000.
A
A)
PaintAchilleBadrack
Separateincomes$120,000$100,000$50,000
Allocate80%ofBadracktoAchille_______40,000(40,000)
Subtotal120,000140,00010,000
Allocate82%ofAchilletoPaint114,800(114,800)
Controllinginterestshareofcons.netincome$234,800______________
Noncontrollinginterestshare$25,200$10,000
6)PabariCorporationownsan80%interestinAldersCorporationandAldersownsa60%interestinBabaoCorporation.Bothinterestswereacquiredatacostequaltobookvalueequaltofairvalue.During2010,AlderssellslandtoBabaoataprofitof$12,000.BabaostillholdsthelandatDecember31,2010.Netincome(loss)ofthethreecompanies(excludinginvestmentincome)for2010are:
PabariCorporation$180,000
AldersCorporation72,000
BabaoCorporation(30,000)
Controllinginterestshareofconsolidatednetincomeandnoncontrollinginterestshare,respectively,for2010are
A)$211,200and($1,200).
B)$211,200and($3,600).
C)$213,600and($1,200).
D)$213,600and($3,600).
D
D)
Noncont.interestshare:
$8,400Profit+($12,000)Loss
PabariAldersBabao
Separateincomes$180,000$72,000$(30,000)
Less:
Unrealizedprofitonland_______(12,000)_______
Subtotal$180,000$60,000(30,000)
AllocateBabao'
snetlossto
Alders($30,000)×
60%_______(18,000)18,000
Subtotal180,00042,000(12,000)
Allocate80%ofAlders
incometoPabari33,600(33,600)
Controllinginterestshareofconsolidated
netincome$213,600______________
Noncontrollinginterestshare$8,400$12,000
7)PabloCorporationacquired60%ofAbagiaCorporationonJanuary1,2010,atacostof$20,000inexcessofbookvalue.Also,onJuly1,2010,Pabloacquired60%ofBabinCorporationatbookvalue.OnJanuary1,2011,Abagiaacquireda20%interestinBabinatacostof$10,000inexcessofbookvalue.TheexcesspurchasecostspaidbyPabloandAbagiawereattributedtogoodwill.
OnJuly1,2011,Pablosoldlandwithabookvalueof$20,000toAbagiafor$40,000.The$20,000unrealizedgainisincludedinPablo'
sseparateincome.Separatenetincomesfortheaffiliatedcompanies(excludinginvestmentincome)for2011are:
Pablo$250,000
Abagia70,000
Babin100,000
Controllinginterestshareofconsolidatednetincomefor2011is
A)$304,000.
B)$324,000.
C)$344,000.
D)$364,000.
C
C)
PabloAbagiaBabin
Separateincomes$250,000$70,000$100,000
Unrealizedprofitonland(20,000)________________
Separaterealizedincomes$230,000$70,000$100,000
AllocateBabin'
sincome:
60%toPablo60,000(60,000)
20%toAbagia________20,000(20,000)
Subtotal290,00090,00020,000
AllocateAbagia'
snetincome
60%toPablo54,000(54,000)
Controllinginterestshare
ofconsolidatednetincome$344,000________________
Noncontrollinginterestshare$36,000$20,000
8)PagliaCorporationowns80%ofAburnCorporationandhasseparatenetincomeof$200,000for2010.AburnCorporationhasseparatenetincomeof$100,000andowns70%oftheoutstandingstockofBadleyCorporation.BadleyCorporationhasseparatenetincomeof$80,000.(Separatenetincomesexcludeinvestmentincome.)Thecostofeachinvestmentwasequaltobookvalueandfairvalue.Thecontrollinginterestshareofconsolidatednetincomefor2010is
A)$324,800.
B)$328,800.
C)$344,800.
D)$344,800.
PagliaAburnBadley
Separateincomes$200,000$100,000$80,000
AllocateBadley'
70%toAburn_______56,000(56,000)
Subtotal$200,000$156,000$24,000
AllocateAburn'
80%toPaglia124,800(124,800)_______
ofconsolidatednetincome$324,800
Noncontrollinginterestshare$31,200$24,000
PaceCorporationowns70%ofAbazaCorporationand60%ofBabonCorporation.AbazaCorporationowns20%ofBabonCorporation.Pace'
sinvestmentinAbazawasconsummatedinonetransactionatapurchaseprice$20,000inexcessofthebookvalue.Pace'
spurchaseofBabonwasmadeinonetransactionataprice$30,000abovebookvalue.Abaza'
sinvestmentinBabonwascompletedinonetransactionatapurchaseprice$10,000inexcessofthebookvalue.Thepurchasepricedifferentialforallthreeinvestmentswasattributabletogoodwill.(Therewerenofairvalue/bookvaluedifferencesinassetsandliabilitiesforeachinvestment.)Pace'
sseparatenetincomeforthecurrentyearis$100,000.Abaza'
sseparatenetincomeis$190,000,whichincludesa$10,000unrealizedlossonthesaleoflandtoPace.Babon'
sseparatenetincomeis$150,000.Separatenetincomesexcludeinvestmentincome.
9)Thecontrollinginterestshareofconsolidatednetincomeforthecurrentyearis
A)$341,000.
B)$348,400.
C)$351,000.
D)$355,000.
PaceAbazaBabon
Separateincomes$100,000$190,000$150,000
Plus:
Unrealizedlosson
landsaletoPace________10,000________
Separaterealizedincomes$100,000$200,000$150,000
AllocateBabon'
60%toPace90,000(90,000)
20%toAbaza________30,000(30,000)
Subtotal190,000230,00030,000
AllocateAbaza'
toPace$230,000×
70%161,000(161,000)
ofconsolidatednetincome$351,000________________
Noncontrollinginterestshare$69,000$30,000
10)Theamountofnoncontrollinginterestshareforthecurrentyearis
A)$69,000.
B)$85,000.
C)$95,000.
D)$99,000.
D)($69,000+30,000=$99,000)
PahmCorporationowns80%oftheoutstandingvotingcommonstockofAbussiCorporation,whichwaspurchasedfor$60,000overAbussi'
sbookvalue.Theexcesspurchasepricewasattributabletogoodwill.AbussiCorporationowns60%oftheoutstandingcommonstockofBadockCorporation,whichwaspurchasedatbookvalue.TheseparatenetincomesofPahm,Abussi,andBadock(excludinginvestmentincome)fortheyearare$200,000,$240,000,and$260,000,respectively.Therewerenofairvalue/bookvaluedifferencesintheassetsandliabilitiesofPahm,AbussiandBadock.
11)Controllinginterestshareofconsolidatednetincomeforthecurrentyearis
A)$504,800.
B)$516,800.
C)$545,200.
D)$557,200.
B)($200,000+(80%)×
[$240,000+(60%)×
(260,000)]=$516,800)
12)TheamountofincomeforthecurrentyearassignedtothenoncontrollingshareholdersofBadockCorporationis
A)$100,000.
B)$104,000.
C)$120,000.
D)$140,000.
B)(40%×
$260,000=$104,000)
13)TheamountofincomeforthecurrentyearassignedtothenoncontrollingshareholdersofAbussiCorporationis
A)$48,000.
B)$53,200.
C)$74,000.
D)$79,200.
D)(20%×
$240,000)+(20%×
$156,000)=$79,200
PahmAbussiBadock
Separateincomes$200,000$240,000$260,000
AllocateBadock'
60%toAbussi________156,000(156,000)
Subtotal$200,000$396,000$104,000
AllocateAbussi'
snetincometo
Pahm$396,000×
80%316,800(316,800)
ofconsolidatednetincome$516,800________________
Noncontrollinginterestshare$79,200$104,000
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