Prepare the acquisition analysis at acquisition date

Reference no: EM132522618

Assignment Question

At this date, Carl Ltd had not recorded any goodwill, and all identifiable assets and liabilities were recorded at fair value except for the attached;

60% of inventory on hand at 1 July 2018 were sold by 30 June 2019. Further life of the assets are listed on the above table. Partial goodwill method is under use and Tax rate:30%

Required

1- Prepare the acquisition analysis at acquisition date.

2- Prepare the business combination valuation entries and pre-acquisition entry at acquisition date.

3- Prepare the journal entry to recognise NCI at acquisition date.

5- Explain how the step 1 to 4 will change if the full goodwill method is used.

6. List and explain the accounting standards issues relevant to the consolidation process.

7. Compare in detail the current situation with the case that Nina Ltd acquires only 20% of issued shares of Carl Ltd with a significant influence on Carl Ltd.

Attachment:- corporate accounting assignment.rar

Reference no: EM132522618

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