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- 20.IFRIC 17 Distribution of noncash assets to owner provides that at the end of each reporting period and at the date of settlement, the entity shall review and adjust the carrying amount of the dividend payable with any change recognized in Group of answer choices a. share premium b. share capital c. profit or loss d. retained earnings1. A company declared a cash dividend on its ordinary shares in December 2020 payable in January 2021. Retained earnings would A. increase on the date of declaration. B. not be affected on the date of payment C. not be affected on the date of declaration D. decrease on the date payment 2. Which of the following should be presented in the statement of changes in equity? A. Distributions to owners B. Investments by owners C. Change in ownership interest in subsidiary that does not result in a loss of control D. All of these are presented in the statement of changes in equity(a) What assets and liabilities of unconsolidated affiliates are omitted from Cummins's balance sheet as a result of the equity method of accounting for those investments? Assets $_____ Liabilities $_______
- When a contingent consideration arising from a business combination is classified as equity, how is any change in its fair value accounted for if the difference arises due to a change in circumstances? Multiple Choice As a memorandum entry indicating that additional shares hed been isued, As an edjustment to an estimate included in the determination of net income. As an adjustment to consolidated contributed surplus. As an adiustment to the consideration naid for the subsidiarvAn entity shall adjust the carrying amount of the dividend payable at the end of each reporting period and at the date of settlement with any changes in the carrying amount of the dividend payable recognized as component of other comprehensive income b. directly in retained earnings c. as gain or loss on property dividend d. as adjustment of share premiumEquity securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or losses as part of the net income are: Securities where a company has holdings of between 20% and 50% Securities where a company has holding of less than 20% O Available-for-sale securities where a company has holdings of less than 20% O Securities where a company has holdings of more than 50%
- When share options issued to employees are vested prior to the predetermined vesting date, the entity shall do nothing recognize a gain for the unamortized balance make a transfer among equity components recognize additional expense for the unamortized balanceQ1 According to IAS 28, Investments in Associates and Joint Ventures, an investment classified as a joint venture should be equity accounted in the consolidated financial statements of the investor company. Which statement below can be used to describe the Equity accounting method? Select one: a. It is an accounting method whereby an investment is initially recorded at cost and is subsequently adjusted for post-acquisition changes in the investor’s share of the net assets of the investee. b. It is an accounting method whereby an investment is initially recorded at cost and is subsequently adjusted for amortization over an agreed period of time. c. It is an accounting method whereby an investment is initially recorded at fair value and is subsequently adjusted for post-acquisition changes in the investor’s share of the net assets of the investee. d. It is an accounting method whereby an investment is initially recorded at fair value and is subsequently adjusted for amortization over…1 | 1 b. c. Reacquisitions of the entity's own equity instruments d. Extraordinary gain 7. Which of the following will not change total equity? ers a. Share dividend b. Receipt of donated asset from a shareholder C. Issuance of convertible bonds d. Issuance of share warrants 8. An entity is required to disclose certain information regarding a. Capital management b. Puttable financial instruments classified as equity c. Dividends d. All of these
- Transaction costs incurred by the corporation relating to issue of shares may not be a. Charged against the related share premium b. Charged to an expense account c. Written off directly against share capital d. Taken to profit or lossWhich statement is incorrect regarding equity-settled share-based payment transactions? A. the issuance of shares to employees with say, a two year vesting period is considered to relate to services over the vesting period. B. the issuance of shares or rights to shares requires an increase in a component of equity C. the fair value of a share-based payment transaction is determined at the date of exercise. D. the issuance of fully vested shares, or rights to shares, is presumed to relate to past service, requiring the full amount of the grant-date fair value to be expensed immediately. Provided the specified vesting conditions, if any, are met, share-based payment arrangement is an agreement between the entity and another party that entities the other party to receive A. equity instruments of the entity or another group entity B. none of the choices C. receives goods or services from the supplier of those goods or services in a…What is the profit attributable to equity holders of parent (or controlling interest in consolidated net income) on December 31?A. P 26,600 C. P 36,000B. P32,090 D. P 44,100