Goodwill impairment in consolidating journal entries

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Reference no: EM1356031

Cost of shares in S Ltd 2,100,000

Group's interest in the net assets of S Ltd

Share captial 2,000,000

Reserves 1,000,000

Net assets 3,000,000

60% thereof (1,800,000)

Goodwill on acquisition 300,000

Monority interest ($3,000,000 x 40%) (1,200,000)

Prepare the related consolidated journal entries if 30% of the goodwill is to be written off as impairment loss?

Reference no: EM1356031

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