Question: QUESTION : 32 points Save Answer Non-controlling interest: Africa Led acquired 909% interest in China Lid on 1 July 2022 for $280,000. At that date,

QUESTION : 32 points Save Answer Non-controlling interest: Africa Led acquired 909% interest in China Lid on 1 July 2022 for $280,000. At that date, China Led's equity consisted of share capital of $190,000 and China Lid were recorded at amounts equal to fair value. NCI fair value is $30,000. nings of $60,000. All the identifiable net assets of China Led reported an after tax profit of $95,000 for the year ended 30 June 2023. The tax rate is 309%. Required: a) Calculate goodwill using the full goodwill method. (11 marks) b) Prepare the consolidation worksheet entries at 30 June 2023 for the Africa Lid group. Include dates for each entry. Narrations are not required. (21 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)

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