On 31 December 2019, Diamond Ltd paid 1,100,000 to acquire 80% of the ordinary share capital of
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Question:
On 31 December 2019, Diamond Ltd paid £1,100,000 to acquire 80% of the ordinary share capital of Gold Ltd. The statements of financial position of the two companies just after this transaction were as follows:
The fair value of Gold’s property, plant and equipment was established as £880,000 at the time of acquisition
Required
Prepare the consolidated balance sheet as of the year end
showing clear calculation for good will
and non controlling interest
as separate workings
Question 03 :
- Define an Intangible Asset as per IAS 38
- Explain the initial recognition and subsequent recognition of an intangible asset
- Discuss the treatment of internally generated intangible assets as per IAS 38
Related Book For
International Financial Reporting A Practical Guide
ISBN: 978-1292200743
6th edition
Authors: Alan Melville
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