Advanced-Accounting-Test课件课件课件.docVIP

Chapter 04 - Consolidated Financial Statements and Outside Ownership 4- PAGE 72 Chapter 04 Consolidated Financial Statements and Outside Ownership ? Multiple Choice Questions? 1.?For business combinations involving less than 100 percent ownership, the acquirer recognizes and measures all of the following at the acquisition date except:?A.?identifiable assets acquired, at fair value.B.?liabilities assumed, at book value.C.?noncontrolling interest, at fair value.D.?goodwill or a gain from bargain purchase.E.?none of these choices is correct. ? ?When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of $70,000 and a fair value of $100,000. ? 2.?What amount should have been reported for the land in a consolidated balance sheet at the acquisition date??A.?$52,500.B.?$70,000.C.?$75,000.D.?$92,500.E.?$100,000. ? 3.?What is the total amount of excess land allocation at the acquisition date??A.?$0.B.?$30,000.C.?$22,500.D.?$25,000.E.?$17,500. ? 4.?What is the amount of excess land allocation attributed to the controlling interest at the acquisition date??A.?$0.B.?$30,000.C.?$22,500.D.?$25,000.E.?$17,500. ? 5.?What is the amount of excess land allocation attributed to the noncontrolling interest at the acquisition date??A.?$0.B.?$30,000.C.?$22,500.D.?$7,500.E.?$17,500. ? 6.?What amount should have been reported for the land in a consolidated balance sheet, assuming the investment was obtained prior to January 1, 2009 and the purchase method of accounting for business combinations was used??A.?$70,000.B.?$75,000.C.?$85,000.D.?$92,500.E.?$100,000. ? ?Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Floats net assets was $1,850,000, and the book value was $1,500,000. The noncontrolling interest shares of Float Corp. are not actively traded. ? 7.?What is the total amount of goodwill recognized at the date of acquisition??A.?$150,000.B.?$250,000.C.?$0.D.?$120