Question 1

How much is A Inc.'s Consolidated Net Income for 2018?

Accepted Answer

A)  $1,510,000. 
B)  $1,773,625. 
C)  $1,796,125. 
D) $2,170,000. 
A)  $1,510,000. 
B)  $1,773,625. 
C)  $1,796,125. 
D) $2,170,000.

Question 2

What would be Whine's ownership interest in Dine following Chompster's purchase of shares in Dine?

Accepted Answer

A)  60% 
B)  64% 
C)  75% 
D) 80% 
A)  60% 
B)  64% 
C)  75% 
D) 80%

Question 3

The amount of goodwill appearing on the December 31, 2018 consolidated balance sheet would be:

Accepted Answer

A)  Nil. 
B)  $10,000. 
C)  $20,000. 
D) $30,000. 
A)  Nil. 
B)  $10,000. 
C)  $20,000. 
D) $30,000.

Question 4

What is the amount of goodwill arising from Hanson's January 1, 2018 acquisition?

Accepted Answer

A)  $50,000. 
B)  $60,000. 
C)  $80,000. 
D) $200,000. 
A)  $50,000. 
B)  $60,000. 
C)  $80,000. 
D) $200,000.

How much is A Inc.'s Consolidated Net Income for 2018?

What would be Whine's ownership interest in Dine following Chompster's purchase of shares in Dine?