Calculate the value of non-controlling interests at the date

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Black Ltd acquired 90% of the shares of Swan Ltd for $107 600 on 1 July 2017. At this date the equity of Swan Ltd consisted of:

Share capital $ 80 000
Retained earnings 40 000

At the acquisition date, all the identifiable assets and liabilities of Swan Ltd were recorded at amounts equal to fair value.

Problem 1: Calculate if there is a Goodwill or Gain on bargain purchase at the date of acquisition.

Problem 2: Calculate the value of Non-Controlling Interests at the date of acquisition.

Reference no: EM132832987

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