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Determine the goodwill on consolidation for the ultimate

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Apple Bhd acquired a 70% interest in Oppa Bhd on 1 June 2017 for RM35,500,000. On this date, the ordinary shares of Oppa Bhd was RM35,000,000 and the retained profit was RM10,000,000. On 1 January 2019 Oppa Bhd acquired a 60% interest in Jojo Bhd for RM23,000,000. The retained profit and ordinary shares of Jojo Bhd on this date were RM5,000,000 and RM25,000,000 respectively. It is the group's policy to value non-controlling interest at their proportionate share of their fair values of the net assets of the subsidiaries on the dates of acquisitions.

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Problem 1: Determine the goodwill on consolidation for the ultimate parent using the single stage method of consolidation

Reference no: EM132619143

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