question 2

question 3

On April 13, 2019, Swan Ltd. purchased 80% of the shares of London Ltd. for $192,000. The purchase discrepancy was $60,000 and was allocated as follows: $40,000 to inventory and $20,000 to goodwill. The April 13, 2019 consolidated balance sheet, which was prepared under IFRS using the fair value enterprise approach, shows total assets of $930,000. What would total assets have been under the identifiable net asset approach? $918,000 $882,000 $930,000 $926,000 Parent Inc. and Sub Inc. had the following balance sheets on July 31, 2019: Parent Inc Sub Inc Sub Inc Sub Inc (carrying value) (carrying value) (fair value) Cash $180,000 $36,000 $36,000 Accounts Receivable $100,000 $40,000 $40,000 Inventory $ 60,000 $24,000 $27.000 Plant and Equipment (net) $200,000 $80,000 $93,000 Goodwill $ $8,000 Trademark $12,000 $15,000 Total Assets $540,000 $200,000 Current Liabilities $ 80,000 $50,000 $50,000 Bonds Payable $320,000 $20,000 $24,000 Common Shares $ 90,000 $80,000 Retained Earnings $50,000 $50,000 Total Liabilities and Equity $540,000 $200,000 Assuming that Parent Inc acquires 80% of Sub Inc on August 1, 2019 for cash of Assuming that Parent Inc acquires 80% of Sub Inc on August 1, 2019 for cash of $180,000, the liabilities section of Parent's consolidated balance sheet on the date of acquisition (August 1, 2019) would total to what amount under the fair value enterprise method? $470,000 O $500,000 $474,000 $519,000 On January 1, 2019, PR paid $90,000 to purchase 10% (10,000) of the ordinary shares of HR Inc. On December 27, 2019, HR declared and paid a dividend of $0.50 per ordinary share. HR reported a net income of $105,000 for the year ended December 31, 2019. On December 31, 2019, the market value of HR's ordinary shares was $9.70 per share. Assume that the HR investment is classified as held-for-trading. What amount should be reported in net income with respect to this investment on PR's 2019 income statement? O $12,000 O$97,000 None of these $5,000