Toro obtained a 80% holding in the 100,000 1 shares of Spark on 1 January 2019...

Transcribed Image Text:

Toro obtained a 80% holding in the 100,000 £1 shares of Spark on 1 January 2019 when the retained earnings of Spark were £450,000. Consideration comprised £600,000 cash and one share in Toro for each two shares acquired. The market value of shares on 1 January 2019 of Toro and Spark were £5.30 and £3.20 respectively. Spark measures non-controlling interest at fair value. Calculate the amount of goodwill to be shown in the consolidated statement of financial position as at 31st December 2020 by filling in the blanks: Consideration is calculated as the total of cash £Blank 1 plus shares £Blank 2. The amount of NCI at the acquisition date is £Blank 3. Net assets at the acquisition date is £Blank 4. Goodwill amount to be presented in the consolidated statement of financial position is £Blank 5. Blank 1 Blank 2 Blank 3 Blank 4 Blank 5 Add your answer Add your answer Add your answer Add your answer Add your answer Toro obtained a 80% holding in the 100,000 £1 shares of Spark on 1 January 2019 when the retained earnings of Spark were £450,000. Consideration comprised £600,000 cash and one share in Toro for each two shares acquired. The market value of shares on 1 January 2019 of Toro and Spark were £5.30 and £3.20 respectively. Spark measures non-controlling interest at fair value. Calculate the amount of goodwill to be shown in the consolidated statement of financial position as at 31st December 2020 by filling in the blanks: Consideration is calculated as the total of cash £Blank 1 plus shares £Blank 2. The amount of NCI at the acquisition date is £Blank 3. Net assets at the acquisition date is £Blank 4. Goodwill amount to be presented in the consolidated statement of financial position is £Blank 5. Blank 1 Blank 2 Blank 3 Blank 4 Blank 5 Add your answer Add your answer Add your answer Add your answer Add your answer

Answer rating: 100% (QA)

Blank 1 600000 Blank 2 80000 shar... View the full answer