Non-controlling interest is where a memorized worksheet stops working. The elimination entries can be reproduced perfectly and the consolidated column can still be wrong, because the parent’s share and the outside shareholders’ share of one subsidiary’s income are not the same number once excess amortization and any deferred intercompany profit have been taken out first. Advanced Accounting, 9th Edition by Fischer, Taylor & Cheng tests that allocation again and again, and it is the single most reliable place to drop marks in this course.
Why this test bank helps
Each question here is followed by a rationale that walks the allocation rather than announcing the total: which figure was reduced before the split, whose income the deferral belonged to, what percentage was applied afterwards. Seeing that order written out a dozen times is what eventually makes it automatic. Reaching the right letter by elimination teaches none of it, which is why the explanation, not the question, is the part of this set that does the work.
What’s inside
- Questions following the ninth edition chapter by chapter, in the book’s own order.
- Multiple choice, true/false and short computational items in the proportions the paper uses.
- A written rationale under every question, showing the allocation step by step.
- Concentrated practice on ownership changes and non-controlling interest, the heaviest-weighted material.
- One organized PDF, downloadable the moment checkout completes.
Topics covered
- Non-controlling interest — measurement at acquisition and its share of income after excess amortization.
- Step acquisitions — obtaining control in stages and remeasuring the previously held interest.
- Sales of an interest — disposals with and without loss of control, and where the difference is reported.
- Determination and distribution of excess — assigning fair value differences and computing annual amortization.
- Intercompany transactions — merchandise, fixed assets and bonds, and whose income absorbs each deferral.
- Consolidated statements — income statement, retained earnings and balance sheet presentation of both interests.
- Foreign currency basics — transactions in another currency, forward contracts and translating a subsidiary.
- Partnerships and fiduciary accounting — formation, profit sharing, liquidation, and estate and trust reporting.
Who it’s for
Students taking advanced accounting from the ninth edition, including those repeating the unit and those revising consolidation topics ahead of a professional examination that draws on the same material.
How to use it (the right way)
Do the reading first, then use the questions as a diagnostic. Attempt a block closed-book, write your allocation working beside each computational item, and read every rationale afterwards — including for items you answered correctly, because a right answer with wrong working will not survive a reworded question. This is a study aid, to be used in line with your institution’s academic-integrity policy, never as a shortcut around the coursework or inside a graded assessment.
Sample question (shows the format — your download contains the full set)
Q. A parent owns 75 percent of a subsidiary that reports net income of $200,000. Annual amortization of the excess assigned to a patent is $20,000. What income is attributed to the non-controlling interest?
- A. $45,000
- B. $50,000
- C. $135,000
- D. $180,000
Answer: A. Subsidiary income is reduced by the $20,000 of excess amortization before it is divided, leaving $180,000, and the outside shareholders take 25 percent of that, or $45,000. B applies the percentage to unadjusted income and ignores the amortization entirely, which is the error this item is designed to catch. C is the controlling interest’s 75 percent share, and D is the adjusted subsidiary income before any split at all.
Edition & format
- Matches: Advanced Accounting, 9th Edition, by Fischer, Taylor & Cheng (ISBN 9780324304015).
- 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 of this text. 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 ninth edition, ISBN 9780324304015. The tenth and twelfth editions of the same text are listed separately.
How is the file delivered? As a download available the second checkout completes, stored in your account so you can retrieve it again later.
Is there an explanation under each item? Yes. Every question has a written rationale, including the conceptual items where the reasoning matters more than the answer.
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.
See more study material for this subject in Accounting Test Banks.
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