F2 Exam Dumps : F2 Advanced Financial Reporting

The tax benefit on a company's asset is £180,000 and the useful life on that asset is five years. The company creates a deferred tax provision to spread this benefit over the asset's useful life.

What entry is needed to reduce this deferred tax provision in the company's year two accounts?

XY owned 60% of the equity share capital of AB at 1 January 20X6.  XY acquired a further 20% of AB's equity share capital on 31 December 20X6 for $500,000.  The non controlling interest in AB was measured at $720,000 immediately prior to the 20% acquisition.

Calculate the amount that XY debited to non controlling interest when it accounted for the 20% acquisition in its consolidated financial statements at 31 December 20X6.

Give your answer to the nearest $000.

$ ?  000

AB owned 80% of the equity share capital of FG at 1 January 20X6.  AB disposed of 10% of FG's equity share capital on 31 December 20X6 for $400,000.  The non controlling interest was measured at $700,000 immediately prior to the disposal.  

Which of the following represents the adjustment that AB made to non controlling interest in respect of the disposal when it prepared its consolidated financial statements at 31 December 20X6?