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Pudding Ltd Acquired a 90 Per Cent Interest in Peaches

Question 38

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Pudding Ltd acquired a 90 per cent interest in Peaches Ltd on 1 July 2003 for a cash consideration of $2,300,000.On the same date,Peaches Ltd acquired a 70 per cent interest in Cream Ltd for a cash consideration of $1,100,000.The fair value of the net assets of each of the companies at acquisition is as follows: Pudding Ltd acquired a 90 per cent interest in Peaches Ltd on 1 July 2003 for a cash consideration of $2,300,000.On the same date,Peaches Ltd acquired a 70 per cent interest in Cream Ltd for a cash consideration of $1,100,000.The fair value of the net assets of each of the companies at acquisition is as follows: Goodwill has been determined not to have been impaired.Information for the period ended 30 June 2004 for Peaches Ltd and Cream Ltd is as follows: Neither dividend had been paid at the end of the period.There were no other intragroup transactions during the period.What is the minority interest in Peaches Ltd and Cream Ltd as at 30 June 2004? A) B) C) D) E) None of the given answers. Goodwill has been determined not to have been impaired.Information for the period ended 30 June 2004 for Peaches Ltd and Cream Ltd is as follows:
Pudding Ltd acquired a 90 per cent interest in Peaches Ltd on 1 July 2003 for a cash consideration of $2,300,000.On the same date,Peaches Ltd acquired a 70 per cent interest in Cream Ltd for a cash consideration of $1,100,000.The fair value of the net assets of each of the companies at acquisition is as follows: Goodwill has been determined not to have been impaired.Information for the period ended 30 June 2004 for Peaches Ltd and Cream Ltd is as follows: Neither dividend had been paid at the end of the period.There were no other intragroup transactions during the period.What is the minority interest in Peaches Ltd and Cream Ltd as at 30 June 2004? A) B) C) D) E) None of the given answers. Neither dividend had been paid at the end of the period.There were no other intragroup transactions during the period.What is the minority interest in Peaches Ltd and Cream Ltd as at 30 June 2004?


A) Pudding Ltd acquired a 90 per cent interest in Peaches Ltd on 1 July 2003 for a cash consideration of $2,300,000.On the same date,Peaches Ltd acquired a 70 per cent interest in Cream Ltd for a cash consideration of $1,100,000.The fair value of the net assets of each of the companies at acquisition is as follows: Goodwill has been determined not to have been impaired.Information for the period ended 30 June 2004 for Peaches Ltd and Cream Ltd is as follows: Neither dividend had been paid at the end of the period.There were no other intragroup transactions during the period.What is the minority interest in Peaches Ltd and Cream Ltd as at 30 June 2004? A) B) C) D) E) None of the given answers.
B) Pudding Ltd acquired a 90 per cent interest in Peaches Ltd on 1 July 2003 for a cash consideration of $2,300,000.On the same date,Peaches Ltd acquired a 70 per cent interest in Cream Ltd for a cash consideration of $1,100,000.The fair value of the net assets of each of the companies at acquisition is as follows: Goodwill has been determined not to have been impaired.Information for the period ended 30 June 2004 for Peaches Ltd and Cream Ltd is as follows: Neither dividend had been paid at the end of the period.There were no other intragroup transactions during the period.What is the minority interest in Peaches Ltd and Cream Ltd as at 30 June 2004? A) B) C) D) E) None of the given answers.
C) Pudding Ltd acquired a 90 per cent interest in Peaches Ltd on 1 July 2003 for a cash consideration of $2,300,000.On the same date,Peaches Ltd acquired a 70 per cent interest in Cream Ltd for a cash consideration of $1,100,000.The fair value of the net assets of each of the companies at acquisition is as follows: Goodwill has been determined not to have been impaired.Information for the period ended 30 June 2004 for Peaches Ltd and Cream Ltd is as follows: Neither dividend had been paid at the end of the period.There were no other intragroup transactions during the period.What is the minority interest in Peaches Ltd and Cream Ltd as at 30 June 2004? A) B) C) D) E) None of the given answers.
D) Pudding Ltd acquired a 90 per cent interest in Peaches Ltd on 1 July 2003 for a cash consideration of $2,300,000.On the same date,Peaches Ltd acquired a 70 per cent interest in Cream Ltd for a cash consideration of $1,100,000.The fair value of the net assets of each of the companies at acquisition is as follows: Goodwill has been determined not to have been impaired.Information for the period ended 30 June 2004 for Peaches Ltd and Cream Ltd is as follows: Neither dividend had been paid at the end of the period.There were no other intragroup transactions during the period.What is the minority interest in Peaches Ltd and Cream Ltd as at 30 June 2004? A) B) C) D) E) None of the given answers.
E) None of the given answers.

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