Multiple Choice

A merge entity is defined in the Corporations Act 2001 as: Choose one answer. a. The comp either and its subsidiaries at the end of the monetary year. Subsidiaries are companies and trusts as defined in terms of this Act. b. A company, registered management investment scheme or disclosing entity together with any the entities it is required by Accounting Standards to include in fused fiscal statements. c. A trust or partnership registered as a management investment scheme and all the entities it controls at the end of the financial year. d. The parent company, minority interests and subsidiaries owned by that parent company as at the end of the financial year. e. None of the given answers. Candle Ltd acquires all the issued upper-case letter of wax light Ltd for a cash payment of $4, five hundred,000 on 30 June 2004. The equipoise sheet of taper Ltd at purchase date is: ($000) Assets bills500 Accounts receivable190 Non-current assets4,200 join a ssets4,890 Liabilities Accounts payable 890 Loans1,000 Total liabilities 1890 carry onholders equity persona roof 2,500 Retained requital500 Total liabilities and shareholders funds4,580 The good value of the net assets of wick Ltd as at 30 June 2004 is $3,800,000.

What is the consolidation entry to give the investment in Wick Ltd? Choose one answer. a. ($000) ($000) Dr percent capital 2,500 Dr Retained winnings 500 Dr Goodwill 1,500 Cr enthronisation in hyponym 4,500 b. ($000) ($000) Dr Non-current assets 800 Cr Asset reassessment throw 800 Dr Share capital 2,500 Dr Retai ned earnings 500 Dr Asset revaluation throw! 800 Dr Goodwill 700 Cr investment in subsidiary 4,500 c. $000 $000 Dr Non-current assets 800 Cr Retained earnings 800 Dr Share capital 2,500 Dr Retained earnings 1,300 Dr Goodwill 700 Cr Investment in subsidiary 4,500 d. $000 $000 Dr Non-current assets 800 Cr Asset revaluation reserve 800 Dr Share capital 2,500 Dr...If you unavoidableness to get a full essay, lay out it on our website: OrderCustomPaper.com

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