EBK ADVANCED FINANCIAL ACCOUNTING
11th Edition
ISBN: 8220102796096
Author: Christensen
Publisher: YUZU
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Chapter 2, Problem 2.15Q
To determine
Introduction: The consolidated financial statements are the ones which are prepared for providing a consolidated view of financials of the company having subsidiary companies.
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How would the share dividends distributable account balance be presented on the statement of financial position? *
a. as part of current liabilities
b. as addition to share capital
c. as addition to retained earnings
d. as addition to additional paid in capital
Explain thoroughly why it is the answer.
Question: How do you account for non-controlling interests in consolidated financial statements using the equity method?
Chapter 2 Solutions
EBK ADVANCED FINANCIAL ACCOUNTING
Ch. 2 - What types of investments in common stock normally...Ch. 2 - Prob. 2.2AQCh. 2 - When is equity method reporting considered...Ch. 2 - Prob. 2.4QCh. 2 - Prob. 2.5QCh. 2 - Prob. 2.6QCh. 2 - Prob. 2.7QCh. 2 - Prob. 2.8QCh. 2 - How does carrying securities at fair value...Ch. 2 - How does the fully adjusted equity method differ...
Ch. 2 - Prob. 2.11QCh. 2 - What is the modified equity method? When might a...Ch. 2 - Prob. 2.13AQCh. 2 - Prob. 2.14QCh. 2 - Prob. 2.15QCh. 2 - Prob. 2.16QCh. 2 - Prob. 2.17QCh. 2 - How are a subsidiary’s dividend declarations...Ch. 2 - Prob. 2.19QCh. 2 - Give a definition of consolidated retained...Ch. 2 - Prob. 2.21QCh. 2 - Prob. 2.22QCh. 2 - Choice of Accounting Method Slanted Building...Ch. 2 - Prob. 2.2CCh. 2 - Prob. 2.3ACCh. 2 - Prob. 2.4CCh. 2 - Prob. 2.5CCh. 2 - Prob. 2.6CCh. 2 - Prob. 2.1.1ECh. 2 - Multiple-Choice Questions on Accounting for Equity...Ch. 2 - Prob. 2.1.3ECh. 2 - Prob. 2.1.4ECh. 2 - Prob. 2.1.5ECh. 2 - Prob. 2.1.6ECh. 2 - Multiple-Choice Questions on Intercorporate...Ch. 2 - Prob. 2.2.2ECh. 2 - Prob. 2.3.1ECh. 2 - Prob. 2.3.2ECh. 2 - Prob. 2.3.3ECh. 2 - Prob. 2.3.4ECh. 2 - Cost versus Equity Reporting Winston Corporation...Ch. 2 - Prob. 2.5ECh. 2 - Prob. 2.6ECh. 2 - Prob. 2.7ECh. 2 - Income Reporting Grandview Company purchased 40...Ch. 2 - Prob. 2.9ECh. 2 - Carrying an Investment at Fair Value versus Equity...Ch. 2 - Investee with Preferred Stock Outstanding Reden...Ch. 2 - Prob. 2.12AECh. 2 - Prob. 2.13AECh. 2 - Prob. 2.14ECh. 2 - Prob. 2.15ECh. 2 - Prob. 2.16ECh. 2 - Prob. 2.17ECh. 2 - Changes ¡n the Number of Shares Held Idle...Ch. 2 - Prob. 2.19PCh. 2 - Carried at Fair Value Journal Entries Marlow...Ch. 2 - Prob. 2.21APCh. 2 - Equity-Method Income Statement Wealthy...Ch. 2 - Consolidated Worksheet at End of the First Year of...Ch. 2 - Consolidated Worksheet at End of the Second Year...Ch. 2 - Prob. 2.25PCh. 2 - Prob. 2.26PCh. 2 - Prob. 2.27BPCh. 2 - Prob. 2.28BP
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- Can you give me an example of intra-equity asset transactions? How do you account for intra-equity asset transactions in consolidated financial statementsarrow_forward2. Appropriation for accumulated profits, if reflected in separate account, shall be shown as a. Component of equity as part of share premium b. Component of total liabilities as current liability c. Component of total assets as noncurrent assets d. Component of equity as part of reservesarrow_forwardWhich of the following does IFRS 3 deal with?a) Consolidated accountsb) Equity accountingc) Goodwilld) Financial Instrumentsarrow_forward
- Based on which of the following concepts, is share capital account shown on the liability side of a balance sheet? Business entity concept Money measurement concept Cost concept Going concern conceptarrow_forwardOrganize the following under Income Statement, Share Holder's Equity, and Balance Sheet. a. Interest Receivable b. Interest Revenue c. Accounts Payable d. Accumulated Depreciation e. Wage Payablearrow_forwardHow is the amount assigned to the non-controlling interest normally determined when a consolidated balance sheet is prepared immediately after a business combination?arrow_forward
- Appropriation for accumulated profits, if reflected in separate account, shall be shown as a. Component of equity as part of reserves b. Component of equity as part of share premium c. Component of total assets as noncurrent assets d. Component of total liabilities as current liabilityarrow_forwardWhen an entity issues a financial instrument, it has to determine its classification either as debt or as equity. Discuss on the appropriate classification of preference shares, and the accounting treatment of dividends on preference shares, with justification by referring to the relevant accounting standard.arrow_forwardHow is the noncontrolling interest treated in the consolidated balance sheet? a. It is included in long-term liabilities. b. It appears between the liability and equity sections of the balance sheet. c. It is included in total as a component of shareholders’ equity. d. It is included in shareholders’ equity and broken down into par, paid-in capital in excess of par and retained earnings.arrow_forward
- Comprehensive income includes the following except: A. revenues and gains B. expense and loss C. unrealized gain or loss on trading securities D. dividends received from preference share E. answer not givenarrow_forwardWhat is the purpose of The Statement of Shareholders’ Equity?arrow_forwardIn a consolidated statement of financial position, the non-controlling interest is shown: Group of answer choices As part of the total current liabilities of the group Separately within the equity section Separately within the non-current liabilities Separately within the non-current investmentsarrow_forward
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