How should phoenix account for its acquisition

Reference no: EM131483632

Case - Who's in Charge?

Required:

1. How should Phoenix account for its acquisition of 100 percent of equity interests in Darwin and Thunderbird: as a merger of entities under common control or as a business combination?

2. If the merger of Phoenix, Darwin, and Thunderbird is a business combination, which entity should be identified as the accounting acquirer?

Answer those 2 questions. Use uploaded file with the case.

Attachment:- Case.rar

Reference no: EM131483632

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