Share capital 2,100,000 420,000 Retained earnings 420,000 588,000   3,486,000 1,386,000   Required: a.Calculate the goodwill on acquisition assuming all net assets of small Ltd are recorded in fair value.  b.Prepare consolidation journal entries.

On 1 July 2014 Padma Ltd acquires 25 per cent of the issued capital of Jamuna Ltd for a cash consideration of $360000.At the date of acquisition, the shareholders’ equity of Jamuna Ltd is: Share capital                       $450000 Retained earnings               $300000 Total shareholders’ equity    $750000 Additional information On the date of acquisition, buildings have a carrying amount in the accounts of Jamuna Ltd of $240000 and a market value of $300000. The buildings have an estimated useful life of 10 years after 1 July 2014. For the year ending 30 June 2015 Jamuna Ltd records an after-tax profit of $90000, from which it pays a dividend of $30000. For the year ending 30 June 2016 Jamuna Ltd records an after-tax profit of $300000, from which it pays a dividend of$150000. Assume a tax rate of 30% is assumed Required Apply equity method of accounting to: (a)Calculate the amount of goodwill at the date of acquisition of Jamuna Ltd (b)Prepare the journal entries for the year…

.Miner Ltd acquired 75% of the share capital of Iver Ltd (Iver) for £1.2m three years ago, when Iver 's net assets were £1.4m. As at 31 August 2020, Iver has net assets of £1.75m.What figures would be included in the consolidated Statement of FinancialPosition as at 31 August 2020 for the Miner Group to reflect the ownership of Iver Ltd?a) Goodwill £200,000Non-controlling interest £1,312,500b) Goodwill £150,000Non-controlling interest £437,500c) Goodwill £150,000Non-controlling interest £1,312,500d) Goodwill £200,000Non-controlling interest £437,500 Show working

Giant Ltd acquired 80 percent share capital of Expert Ltd. On 1 July 2018 for a cost of $1,600,000. As at the date of acquisition, all assets and liabilities of Expert Ltd were fairly valued except a land that has a carrying value $150,000 less than the fair value. The recorded balance of equity of Expert Ltd as at 1 July 2018 were as: Share capital Retained earnings $800,000 $200,000 $400,000 51,400,000 General Reserve Total Additional information: HCLMES INNTITUTE The management of Glant Ltd values non-controlling interest at the proportionate share of Expert Ltd identifiable net assets. Expert Ltd has a profit after tax of 5200,000 for the year ended 30 June 2019. During the financial year to 30 June 2019, Expert Ltd sold inventory to Giant Ltd for a price of $120,000. The inventory costs Expert Ltd $60,000 to produce. 25 percent of the inventory are still on the hand of Giant Ltd as at 30 June 2019. • During the year Expert Ltd paid S60,000 in consultancy fees to Giant Ltd. On 1…