Bob acquired 80% of the voting equity shares of Bill. Bill h…
Bob acquired 80% of the voting equity shares of Bill. Bill had the following equity at the date of acquisition:$Ordinary shares $1 1,000,000Retained earnings 800,000The cost of the investment was $1,500,000 and the fair value of the non-controlling interest at acquisition was$360,000.What was the goodwill on acquisition of Bill?A $420,000B $60,000C $300,000D $48,00016 The following transactions relate to Rashid’s electricity expense ledger account for the year ended 30 June 20X9:$Prepayment brought forward 550Cash paid 5,400Accrual carried forward 650What amount should be charged to the income statement in the year ended 30 June 20X9 for electricity?A $6,600B $5,400C $5,500D $5,300
