Zoe Ltd has the following SFP at December 31 20X5
Zoe Ltd. has the following SFP at December 31, 20X5:
Zoe Ltd.
Statement of Financial Position
December 31, 20X5


On December 31, 20X5, Halifax Ltd. bought 70% of the outstanding shares of Zoe Ltd. and paid $ 190,000. The current fair values of the net assets of Zoe Ltd. on December 31, 20X5, are:


Halifax Ltd. is an investment company that has assets composed only of cash and short- term marketable investments.

Required
Calculate the following items, as they would appear on the Halifax Ltd. consolidated SFP at December 31, 20X5, under the entity method and the parent- company extension method respectively:
a) Land
b) Goodwill
c)NCI
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help