A Limited has two subsidiary entities, B Limited and C Limited. A Limited owns 100% of the shares in both entities. Details of thecash accounts of each company are: A Limited $870000, B Limited $820000, C Limited $30000. The balance of the consolidatedcash account of the A Limited group is:

A Limited acquired 100% of the share capital of B Limited for $765000. B Limited had total shareholder's equity of $400000. Thebook values of B Limited's assets were: buildings $100000, machinery $180000. The fair values of these assets were: buildings6290000. machinery $350000. The tax rate is 30%. The acqisition analysis wil determine goodwill or gain on bargain purchase

A and B are in partnership sharing profits in the ratio of 3:2. They take C as a new partner. Goodwillof the firm is valued at 3,00,000 and C brings 30,000 as his share of goodwill in cash which is entirelycredited to the Capital Account of A. New profit sharing ratio will be

Which account below is not an account of equity? A. Cash. B. Dividends. C. Reserves. D. Retained Earnings.

XYZ Company has assets and liabilities of $15,000 and $12,000, respectively. If the company issues an additional $1,500 of stock for cash, what will be the balance in shareholders' equity following the transaction?

A747 Limited and A767 Limited are subsidiaries of one economic entity. Both A747 Limited and A767 Limited are both separate legal entities required to prepare their own financial statements. During the 20X7 financial year, A747 Limited sold A767 Limited an amount of inventory which cost $1,000 for $2,000. At the end of the 20X7 financial year, A767 Limited has 60 percent of that inventory still on hand and the rest has been sold to an entity outside the economic entity.At what amount should the inventory remaining in A767 Limited be recorded in the consolidated financial statement for the economic entity for the 20X7 financial year?Group of answer choices$1,200$800$2,000$600