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How do calculate fv identifiable net asset for consolidation

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Reference no: EM132667015

At 1 July 2015, all the identifiable assets and liabilities of Subsidary were recorded at amounts equal to their fair values except for:

                                         Carrying amount              Fair value
Plant (cost $150 000)   $120 000                         $123 000
Patents                      $105 000                        $90 000
Inventory                    $18 000                         $22 500

The plant was considered to have a further 5-year life. The patents were sold for $120 000 to an external entity on 18 August 2015. The inventory was all sold by 30 June 2016

Problem 1: How do calculate the FV identifiable net assets for consolidation?

Reference no: EM132667015

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