Warsaw Ltd acquired 60% of the ordinary shares of Krakow Ltd on 1 September 2020 when the issued share capital of Krakow Ltd was €3 million and its retained earnings €1 million. The consideration is as follows: The issue of one million ordinary €1 shares in Warsaw Ltd at market value €2.20; A cash payment of €330,000. The non-controlling interests in the net assets of Krakow Ltd as at 1 September 2020 is valued at €1,650,000. Required: Calculate the following as at 1 September 2020: Goodwill Non-controlling interests

On December 18, 2020, Stephanie Corporation acquired 100 percent of a Swiss company for 4.002 million Swiss francs (CHF), which is indicative of book and fair value. At the acquisition date, the exchange rate was $1.00 = CHF 1. On December 18, 2020, the book and fair values of the subsidiary’s assets and liabilities were as follows:     Cash CHF 802,000   Inventory   1,302,000   Property, plant, and equipment   4,002,000   Notes payable   (2,104,000 )     Stephanie prepares consolidated financial statements on December 31, 2020. By that date, the Swiss franc has appreciated to $1.10 = CHF 1. Because of the year-end holidays, no transactions took place prior to consolidation.   Determine the translation adjustment to be reported on Stephanie’s December 31, 2020, consolidated balance sheet, assuming that the Swiss franc is the Swiss subsidiary’s functional currency. What is the economic relevance of this translation adjustment? Determine the remeasurement gain or loss…

On 1 July 2014 Padma Ltd acquires 25 per cent of the issued capital of Jamuna Ltd for a cash consideration of $360000.At the date of acquisition, the shareholders’ equity of Jamuna Ltd is: Share capital                       $450000 Retained earnings               $300000 Total shareholders’ equity    $750000 Additional information On the date of acquisition, buildings have a carrying amount in the accounts of Jamuna Ltd of $240000 and a market value of $300000. The buildings have an estimated useful life of 10 years after 1 July 2014. For the year ending 30 June 2015 Jamuna Ltd records an after-tax profit of $90000, from which it pays a dividend of $30000. For the year ending 30 June 2016 Jamuna Ltd records an after-tax profit of $300000, from which it pays a dividend of$150000. Assume a tax rate of 30% is assumed Required Apply equity method of accounting to: (a)Calculate the amount of goodwill at the date of acquisition of Jamuna Ltd (b)Prepare the journal entries for the year…

.Miner Ltd acquired 75% of the share capital of Iver Ltd (Iver) for £1.2m three years ago, when Iver 's net assets were £1.4m. As at 31 August 2020, Iver has net assets of £1.75m.What figures would be included in the consolidated Statement of FinancialPosition as at 31 August 2020 for the Miner Group to reflect the ownership of Iver Ltd?a) Goodwill £200,000Non-controlling interest £1,312,500b) Goodwill £150,000Non-controlling interest £437,500c) Goodwill £150,000Non-controlling interest £1,312,500d) Goodwill £200,000Non-controlling interest £437,500 Show working