Rainbow Ltd has control over Winnie Ltd. Rainbow sold an equipment to Winnie for $3,800,000 in January 20X5. The equipment was 3 years old when sold, and had cost Rainbow $4,500,000 to buy, with expected residual value $500,000. The residual value and remaining useful life of the equipment did not change. The equipment had been depreciated by Rainbow at 10% p.a. straight-line. The amount of the unrealised gain/loss on the sale was: Select one: A. $700,000 gain B. $700,000 loss O C $500,000 gain D. $200,000 loss On 1 January 20X0, Sharco Ltd acquired 90% of the share capital of Max Ltd for $900.000 cash. At that date, the equity section of Max Ltd's balance sheet was as follows: $ Share capital 700.000 Retained profits 50,000 Asset revaluation reserve 100,000 Assume all assets and liabilities were recorded at their fair values, except for a piece of equipment recorded at $50,000 but Sharco Ltd considers it to have a fair value of $100,000. This equipment is not revalued by Max Ltd. The difference on acquisition is: Select one: o Not goodwill under any method because the difference is a bargain purchase. a larger amount of goodwill under the partial goodwill method compared with the full method. O a larger amount of goodwill under the full goodwill method compared with the partial method. not conclusively comparable under the full and partial methods from the available information. O Minion Ltd acquired 20% and significant influence over the operations of Hoola Ltd and control over the operations of Mend Ltd on 1 July 20X0. Hoola Ltd reported a profit of $800,000 for the year ended 30 June 20X1. For its financial year ended 30 June 20x1, Minion Ltd would report a share of Hoola Ltd's profit of Select one: O Would not report any amount anywhere. $800,000 in the consolidated financial statements of the Minion Group. 0 $160.000 in the consolidated financial statements of the Minion Group. O $160,000 in the separate financial statements of Minion Ltd