In June 2007, Deutsche Post World Net acquired 49 percent of the shares of U.S. airline ASTAR

Question:

In June 2007, Deutsche Post World Net acquired 49 percent of the shares of U.S. airline ASTAR Air Cargo Holdings for ‚¬67 million. ASTAR is consolidated by Deutsche Post. Following is information on ASTAR's identifiable net assets at the date of acquisition:

Required
a. Calculate total goodwill and the reported amount of noncontrolling interests at the date of acquisition, assuming Deutsche Post uses the IFRS alternative valuation method for noncontrolling interests.
b. Prepare the consolidation eliminating entries at the date of acquisition.

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 62% (8 reviews)

In millions a Calculation of goodwill Acquisition cost 67 Less 49 fair va...View the full answer

Answered By

Diane Joyce Pastorin

Please accept my enthusiastic application to solutioninn. I would love the opportunity to be a hardworking, passionate member of your tutoring program. As soon as I read the description of the program, I knew I was a well-qualified candidate for the position. I have extensive tutoring experience in a variety of fields. I have tutored in English as well as Calculus. I have helped students learn to analyze literature, write essays, understand historical events, and graph parabolas. Your program requires that tutors be able to assist students in multiple subjects, and my experience would allow me to do just that. You also state in your job posting that you require tutors that can work with students of all ages. As a summer camp counselor, I have experience working with preschool and kindergarten-age students. I have also tutored middle school students in reading, as well as college and high school students. Through these tutoring and counseling positions, I have learned how to best teach each age group.

4.60+ 2+ Reviews 10+ Question Solved

Related Book For book-img-for-question

Advanced Accounting

ISBN: 978-1934319307

2nd edition

Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III

See More Books

Question Posted: Apr 30, 2016 12:00 PM

See More Questions

In June 2007, Deutsche Post World Net acquired 49 percent of the shares of U.S. airline ASTAR

Question:

Dr (Cr) (in millions) Fair value Book value 6.0 65.0 5.0 14.5 68.0 (94.0) (87.0) 10.0 65.0 5.0 12.5 68.0 (94.0) (87.0) Aircraft Noncurrent liabilitieS. ..^^^ir " . . Current liabilities Totals.. (22.5) (20.5)

Step by Step Answer:

In millions a Calculation of goodwill Acquisition cost 67 Less 49 fair va...View the full answer

Advanced Accounting

Students also viewed these Accounting questions