On 1 July 2019, Ria Ltd acquired 80 of the issued shares of Lee Ltd for $165 000 At this date, the equity of Lee Ltd was Share capital $100 000 General reserve 40 000 Retained earnings 50 000 At acquisition date all the identifiable assets and liabilities of Lee Ltd were recorded at amounts equal to fair value At 30 June 2021, the equity of Lee Ltd consisted of Share capital $100 000 General reserve 50 000 Retained earnings 80 000 During the 202021 year Lee Ltd recorded a profit of $15 000 Required Prepare the consolidated worksheet entries at 30 June 2021 for Ria Ltd assuming At 1 July 2019, the fair value of the non controlling interest was $39 000 and Ria Ltd adopts the full goodwill method Ria Ltd adopts the partial goodwill method

Question: On 1 July 2019, Ria Ltd acquired 80% of the issued shares of Lee Ltd for $165 000. At this date, the equity of Lee

On 1 July 2019, Ria Ltd acquired 80% of the issued shares of Lee Ltd for $165 000. At this date, the equity of Lee Ltd was:

Share capital	$100 000
General reserve	40 000
Retained earnings	50 000

At acquisition date all the identifiable assets and liabilities of Lee Ltd were recorded at amounts equal to fair value. At 30 June 2021, the equity of Lee Ltd consisted of:

Share capital	$100 000
General reserve	50 000
Retained earnings	80 000

During the 2020–21-year Lee Ltd recorded a profit of $15 000.

Required:

Prepare the consolidated worksheet entries at 30 June 2021 for Ria Ltd assuming:

At 1 July 2019, the fair value of the non-controlling interest was $39 000 and Ria Ltd adopts the full goodwill method.
Ria Ltd adopts the partial goodwill method.

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