Free F2 Exam Braindumps
Advanced Financial Reporting Questions 126–130 (page: 27)

CORRECT TEXT
XY owned 60% of the equity share capital of AB at 1 January 20X6. XY acquired a further 20% of AB's equity share capital on 31 December 20X6 for $500,000. The non controlling interest in AB was measured at $720,000 immediately prior to the 20% acquisition. Calculate the amount that XY debited to non controlling interest when it accounted for the 20% acquisition in its consolidated financial statements at 31 December 20X6.
Give your answer to the nearest $000.

$ ? 000

AB, a listed entity, prepared its financial statements to 31 December 20X7, in accordance with international accounting standards.
Which THREE of the following were disclosed as related parties of AB in its financial statements?

CORRECT TEXT
ST acquired two financial investments in the year to 31 December 20X8. One of these investments was initially classified as held for trading, the other as available for sale. ST remeasured both investments at fair value at 31 December 20X8 in accordance with IAS 39 Financial Instruments:
Recognition and Measurement. The resulting gains were calculated as follows:
· Gain on held for trading investment $50,000
· Gain on available for sale investment $40,000
What was the value of the gain that ST presented in its other comprehensive income when it prepared its financial statements for the year to 31 December 20X8? Give your answer to the nearest $000.
$ ? 000

CORRECT TEXT
AB acquired 10% of the equity share capital of XY for $180 million in 20X4. On 1 January 20X8 AB acquired a further 45% of the equity share capital of XY for $900 million and at that date the original investment had a fair value of $200 million.
Place the correct values in the boxes below in order to complete the consideration transferred element of the goodwill calculation on the acquisition of XY.

Which of the following options provides a representation of how the non controlling interest in FG is measured in CD's consolidated statement of financial position at 31 December 20X8?