Zoe Ltd. has the following SFP at December 31, 20X5: Zoe Ltd. Statement of Financial Position December
Question:
Zoe Ltd.
Statement of Financial Position
December 31, 20X5
On December 31, 20X5, Halifax Ltd. bought 70% of the outstanding shares of Zoe Ltd. and paid $ 190,000. The current fair values of the net assets of Zoe Ltd. on December 31, 20X5, are:
Halifax Ltd. is an investment company that has assets composed only of cash and short- term marketable investments.
Required
Calculate the following items, as they would appear on the Halifax Ltd. consolidated SFP at December 31, 20X5, under the entity method and the parent- company extension method respectively:
a) Land
b) Goodwill
c)NCI
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
Question Posted: