A Limited acquired 80% of the stated ordinary share capital of B Limited and 30% of the stated ordinary share capital of C Limited. B limited acquired another 40% of the stated ordinary share capital of C Limited. The non-controlling interest percentage of C Limited considered in the preparation of consolidated financial statements of the A Limited is?
Answers
Answer:
QUESTION NO. 01
For questions 1 to 10, select the most appropriate answer and write against the question
number, in the answer booklet.
1.1. A Limited acquired 80% of the stated ordinary share capital of B Limited and 30%
of the stated ordinary share capital of C Limited. B limited acquired another 40%
of the stated ordinary share capital of C Limited. The non-controlling interest
percentage of C Limited considered in the preparation of consolidated financial
statements of the A Limited is:
a) 62% b) 30% c)38% d)60%.
1.2. Fair value means:
a) Current market value which depends on the market demand and supply.
b) Price to be paid at the replacement of the particular asset.
c) Price determine by two knowledgeable parties with intention to buy and sell.
d) Present value of future earnings.
Answer to questions No. 1.3, 1.4 and 1.5 from the following information
Capital structure of Alpha Ltd is as follows;
10% Preference shares of Rs. 10/- each Rs.400,000
Equity shares of Rs. 10/- each Rs. 800,000
Rs. 1,200,000
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CMA Sri Lanka – May 2019 Examination Page 3 of 11
Following information is also available.
• Profit after tax is Rs. 280,000/-
• Depreciation for the year is Rs. 60,000/-
• Equity dividend paid 20%
• Market price of equity share is Rs. 24/
Explanation:
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