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Multi-year consolidation: non-controlling interests recognised at fair value

Multi-year consolidation: non-controlling interests recognised at fair value

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Published by warsidi

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Published by: warsidi on Mar 27, 2010
Copyright:Attribution Non-commercial

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10/26/2011

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Illustration 3.7A
Multi-year consolidation: non-controllinginterestsrecognisedat fair value
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Acquisition date:31 Dec 20x1Acquirer:P Co.Acquiree:S Co.Ownership interest acquired:90%P's ordinary shares issued:1,000,000Market value of P'sharesissued:5,000,000Cash paid by P:8,260,000Fair value of non-controlling interests:1,400,000Tax rate:20%All fair value adjustments have tax effects and give rise to deferredtax, except for goodwill impairment loss.
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Balance sheets and fair values at 31 December 20x1
S Co.P Co.Book valueFair valueBook valueAssetsLand780,0001,170,0001,560,000Leased buildings -net5,200,0006,500,00010,400,000Equipment -net2,600,0002,210,0009,100,000Investment in S Co.13,260,000Inventories650,000780,0001,170,000Receivables -net390,000390,000910,000Other current assets520,000520,000780,000Cash260,000260,0001,690,00010,400,00011,830,00038,870,000Equity and liabilitiesOrdinary shares6,500,00025,870,000Retained earnings1,170,0005,590,000Other liabilities910,000910,0002,600,000Loan payable1,820,0001,820,0004,810,000Contingent liabilities130,00010,400,0002,860,00038,870,000Fair value of net identifiable assets8,970,000
http://www.warsidi.com

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