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1、AdvancedAccounting,11e(Beams/Anthony/Bettinghaus/Smith)Chapter8Consolidations-ChangesinOwnershipInterestsMultipleChoiceQuestions1)Whichofthefollowingiscorrect?ThedirectsaleofadditionalsharesofstockatbookvaluepersharetoonlytheparentcompanyfromasubsidiaryA)decreasestheparent'si
2、nterestanddecreasesthenoncontrollingshareholders'interest.B)decreasestheparent'sinterestandincreasesthenoncontrollingshareholders'interest.C)increasestheparent'sinterestandincreasesthenoncontrollingshareholders'interest.D)increasestheparent'sinterestanddecreasesthenoncontroll
3、ingshareholders'interest.Answer:DObjective:LO3Difficulty:ModerateUsethefollowinginformationtoanswerthequestion(s)below.OnDecember31,2010,GiantCorporation'sInvestmentinPenguinCorporationaccounthadabalanceof$500,000.Thebalanceconsistedof80%ofPenguin's$625,000stockholders'equity
4、onthatdate.Giantowns80%ofPenguin.OnJanuary2,2011,Penguinincreaseditsoutstandingcommonstockfrom15,000to18,000shares.2)AssumethatPenguinsoldtheadditional3,000sharesdirectlytoGiantfor$150,000onJanuary2,2011.Giant'spercentageownershipinPenguinimmediatelyafterthepurchaseoftheaddit
5、ionalstockisA)66-2/3%.B)80%.C)83-1/3%.D)86-2/3%Answer:CExplanation:C)(Parenthad80%of15,000shares,or12,000shares.Theynowhold15,000of18,000shares)=83.33%Objective:LO3Difficulty:Moderate3)AssumethatPenguinsoldtheadditional3,000sharestooutsideinterestsfor$150,000onJanuary2,2011.G
6、iant'spercentageownershipimmediatelyafterthesaleofadditionalstockwouldbeA)66-2/3%.B)75%.C)80%.D)83-1/3%.Answer:AExplanation:A)(12,000shares/18,000shares)=66.67%Objective:LO3Difficulty:Moderate36Copyright©2012PearsonEducation,Inc.PublishingasPrenticeHallUsethefollowinginformat
7、iontoanswerthequestion(s)below.BirdCorporationpurchasedan80%interestinBrushCorporationonJuly1,2010atitsbookvalue,andonJanuary1,2011itsInvestmentinBrushaccountwas$300,000,equaltoitsbookvalue.Brush'snetincomefor2011was$99,000(earneduniformly);nodividendsweredeclared.OnMarch1,20
8、11,BirdreduceditsinterestinBrushbysellinga20%interest,one-fourthofit
