Information pertaining to the group structure of A Ltd is as follows:

Extracts of the 20x4 financial statements of the companies are shown below:

Required

1. Prepare the necessary elimination and consolidation journal entries with respect to A’s group financial statements for the year ended 31 December 20x4, using the simultaneous method of consolidation.
2. On 1 January 20x5, C acquired 90% of D’s share capital. Calculate the total non-controlling interest percentage, both direct and indirect, in D Ltd.

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B Ltd A Ltd acquired 70% of the share capital of B on 1 January 20x1. Fair value of consideration transferred.. Share capital of B at date of acquisition. Retained earnings of B at date of acquisition. Net assets acquired were at fair values. Fair value of non-controlling interests of B at date of acquisition. $1,250,000 300,000 700,000 500,000