User Account

All Pages

What is the carrying amount of goodwill in the consolidated

Assignment Help Accounting Basics
Reference no: EM132698482

Sansom plc has two subsidiaries, Mabbutt Ltd and Waddle Ltd. It purchased 10,000 £1  shares in Mabbutt Ltd on 1 January 20X1 for £35,000 when the retained earnings of Mabbutt Ltd stood at £21,000 and the fair value of the NCI was £13,000. It purchased 15,000 £1 shares in Waddle Ltd for £20,000 on 31 December 20X1 when the retained earnings of Waddle Ltd stood at £16,000 and the fair value of the NCI was £10,000. Non- controlling interests at the acquisition date are to be measured at their fair value.

The issued share capital of the two subsidiaries is as follows.

Mabbutt Ltd £15,000

Waddle Ltd £20,000

By the end of 20X4 goodwill impairment losses totalled £4,400.

Problem 1: What is the carrying amount of goodwill in the consolidated statement of financial position at 31 December 20X4?

Reference no: EM132698482

Questions Cloud

What is the rationale for your decision : Read the Case Problem, Cianbro Corporation in Chapter 5, p. 113, #10. Discuss whether a temporary restraining order should be granted.
Supply chain utilizes idea of speed to market : The agile supply chain utilizes the idea of "speed to market" in order to get the product to the end-consumer
Determine the amount at which the land should be recorded : Assume MC intentionally records this transaction at an amount greater than the fair value of the land and the stock. Discuss this situation
Difference between book value of equity acquired : Computation and Allocation Schedule for the difference between book value of equity acquired and the value implied by the purchase price
What is the carrying amount of goodwill in the consolidated : Sansom plc has two subsidiaries, What is the carrying amount of goodwill in the consolidated statement of financial position at 31 December 20X4?
Expected rates of return on two investments : Which investment would you select based on the differences in expected rates of return on the two investments? Explain.
Prepare the entries for both the purchase and subsequent : Prepare the entries for both the purchase and subsequent resale of the shares assuming the shares are (a) retired and (b) viewed as treasury stock.
Examining the evidence-organizational support and creativity : Examining Evidence: Organizational Support and Creativity. what ways can managers help employees feel more connected to their workgroups
Record the payment of the warranty claim on September : Provision for warranties before adjustment was $36,000. Record the payment of the warranty claim on 16 September 2019 in general journal format

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd