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Calculate the goodwill figure

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Reference no: EM133081438

Question - Paul acquired 150,000 £1 ordinary shares (out of a possible 200,000) in Saul paying £500,000 when Saul's retained earnings stood at £410,000.

One year later at consolidation Saul's share capital remained stable at £200,000 but retained earnings had increased to £450,000

Non controlling interest is valued at fair value, at the date of acquisition this was £160,000

Goodwill is to be impaired by 25% per annum and NCI will accept their share of the impairment

Calculate the goodwill figure to be shown as a non-current asset in the consolidated statement of financial position after one year of trading?

Reference no: EM133081438

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