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  • PG 227

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    Ng Weiquan
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    1) The document shows the balance sheet of GW Post as of December 31, 2018 which includes the acquisition of a 60% interest in Lose. 2) Key line items include PPE of $1510, investments of $183, and current assets of $350 for total assets of $2123. Equity includes share capital of $1500 and retained earnings of $547 for total equity of $1976. 3) Goodwill of $30 was recognized from the acquisition of Lose, in which the previously held 20% interest was restated to fair value of $60m, recognizing a $20m gain.

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    Pg 227

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    1) The document shows the balance sheet of GW Post as of December 31, 2018 which includes the acquisition of a 60% interest in Lose. 2) Key line items include PPE of $1510, investments of $183, and current assets of $350 for total assets of $2123. Equity includes share capital of $1500 and retained earnings of $547 for total equity of $1976. 3) Goodwill of $30 was recognized from the acquisition of Lose, in which the previously held 20% interest was restated to fair value of $60m, recognizing a $20m gain.

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    Download as XLSX, PDF, TXT or read online from Scribd
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    4 views1 page

    PG 227

    Uploaded by

    Ng Weiquan
    1) The document shows the balance sheet of GW Post as of December 31, 2018 which includes the acquisition of a 60% interest in Lose. 2) Key line items include PPE of $1510, investments of $183, and current assets of $350 for total assets of $2123. Equity includes share capital of $1500 and retained earnings of $547 for total equity of $1976. 3) Goodwill of $30 was recognized from the acquisition of Lose, in which the previously held 20% interest was restated to fair value of $60m, recognizing a $20m gain.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 1

    $m (1)GW Post (2) Invest URP GW PPE Add dep Factoring Total

    assets profit in Asso impair


    PPE 1500 12 -2 1510
    Investment lose 200 -200 0
    Investment Gain 180 12 -3 -6 183
    Goodwill 30 30
    2380 1723
    Current Assets
    Receivables 50 50
    Inventories 150 150
    Bank 200 200
    350
    Total Assets 2730 2123

    Equity
    Share capital 1500 1500
    Retained earnings 400 20 40 12 -3 -6 10 -2 5 476
    Total Equity 1900 1976
    Non-controlling interest 60 10 70
    Lose's equity 300 -250 -50

    Non-current liability
    Provision 2 2
    Liabilities
    Current liabilities 30 45 75
    330 77
    Total liabilities 330
    Total E and L 2230 2123

    The acquisition of 60% interest in Lose has given rise to Beth able to exercise control over Lose.
    Thus, goodwill will be calculated on 1 Dec 2018.
    Therefore, the previously held interest of 20% will be restated to its FV of $60m
    , giving rise to a gain on restatement of $20m that is recognized in the P&L.

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