The determination and distribution of excess schedule is the spine of this course, and an examination will rarely ask you to draw one. It hands you a paragraph of facts and four numbers, and expects the schedule to have happened in your head. That is the particular pressure of assessment built on Advanced Accounting, 10th Edition by Fischer: the same computations you practised across a full page of working paper, compressed into a single item with no room to lay them out.
Why this test bank helps
Answering under that compression is a trained skill rather than a knowledge test. Every question here is followed by a written rationale naming the step being examined — which portion of the excess was assigned, which year’s amortization applies, whose share of income is affected — so a wrong attempt tells you which stage of the schedule you shortcut. Practising the recognition is what eventually makes the full method fast enough to use when the clock matters.
What’s inside
- Questions arranged chapter by chapter across the tenth edition, in the book’s own order.
- Multiple choice, true/false and short computational items in the proportions a typical paper uses.
- A written rationale under every question, naming the rule instead of restating the letter.
- Heavier practice on the consolidation chapters, which carry most of the weight in this course.
- One organized PDF, downloadable the moment checkout completes.
Topics covered
- The acquisition method — measuring consideration, identifying the assets acquired and recording goodwill.
- Determination and distribution of excess — building the schedule and assigning the excess to specific accounts.
- Consolidated working papers — eliminations at acquisition and afterwards under the simple equity, sophisticated equity and cost methods.
- Non-controlling interest — measurement at acquisition and its share of income once excess amortization is taken.
- Intercompany merchandise and fixed assets — deferring profit and recognizing it as goods sell or an asset depreciates.
- Intercompany debt — a parent’s purchase of subsidiary bonds and the gain or loss on constructive retirement.
- Consolidated cash flow statements — treatment of the non-controlling interest and of cash paid in an acquisition.
- Foreign currency and derivatives — transactions in another currency and the instruments used to hedge them.
Who it’s for
Undergraduate accounting students taking advanced accounting from the tenth edition, plus master’s and professional-track students who want concentrated practice on consolidation material in a multiple-choice format.
How to use it (the right way)
Read the chapter and work the book’s own illustrations first; questions diagnose understanding, they do not create it. Then attempt a block closed-book, and for every computational item write the schedule out even when you can see the answer — speed comes from repetition, not from skipping steps. This is a study aid, to be used in line with your institution’s academic-integrity policy: preparation and self-testing only, never carried into a graded assessment.
Sample question (shows the format — your download contains the full set)
Q. A parent pays $850,000 for 100 percent of a subsidiary whose net assets have a book value of $700,000. The subsidiary’s land is undervalued by $60,000 and its building by $50,000. What goodwill is recognized?
- A. $0
- B. $40,000
- C. $110,000
- D. $150,000
Answer: B. The excess of price over book value is $150,000. Of that, $60,000 is assigned to land and $50,000 to the building, leaving a $40,000 residual that is recorded as goodwill. D treats the entire excess as goodwill and ignores the undervalued assets, which is the most common error on this item. C is the amount assigned to identifiable assets rather than the residual, and A assumes fair value equals book value, which the facts contradict.
Edition & format
- Matches: Advanced Accounting, 10th Edition, by Fischer (ISBN 9780324379051).
- Format: Digital PDF, delivered instantly after checkout.
- Access: Lifetime — re-download from your account at any time.
Chapter order and question numbering change between editions. Please confirm the edition and ISBN above match the book your course assigned before you buy.
Frequently asked questions
Which edition does this cover? The tenth edition, ISBN 9780324379051. Later editions revise the consolidation chapters, so their question sets are listed separately.
How do I receive it? The download appears on your order confirmation page and in your account as soon as checkout completes.
Do all the questions include rationales? Yes. Every item carries a written explanation of the reasoning, which is the part that turns checking into studying.
Is using a test bank allowed? As a study aid it works like any other practice resource. Follow your institution’s academic-integrity policy, and never take the material into a graded assessment.
More titles for this course are in Accounting Test Banks.
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