F2 - Advanced Financial Reporting: CIMAPRA19-F02-1

When establishing a group structure, which of the following factors need to be considered: Select ALL that apply.

A. Whether control has been established

B. The percentage ownership

C. The date of acquisition

D. Non-controlling interests

E. Goodwill

F. Intra-group investments

G. Whether control is direct or indirect

WX acquired 60% of the equity shares of CD on 1 January 20X3. WX sold 5% of the equity shares it held for $60,000 on 31 December 20X5. At that date the net assets of CD were $120,000 and the fair value of the non-controlling interest in CD was measured at $21,000. No goodwill arose on the original acquisition of CD.

When preparing its consoldiated financial statements, WX will process which of the following adjustments to its group retained earnings?

A. A debit of $39,000

B. A credit of $54,000

C. A credit of $39,000

D. A debit of $54,000

CORRECT TEXT

In recent years EBITDA has been adopted by large entities as a key measure of performan ce. The following figures have been extracted from the financial statements of UV for the year ended 30 November 20X9:

What is EBITDA for UV for the year ended 30 November 20X9?

Give your answer to the nearest $'000.

A. 61500, 61500000