Homework Answers
| Sr No | Particulars | Debit | Credit |
| 1 | Investment in Sub ltd | 12,00,000.00 | |
| (Fair value of consideration transferred) | |||
| 2 | Goodwill Acquired on business combination | 1,42,800.00 | |
| (Note1) | |||
| 3 | Share Capital (of Sub Ltd) | 17,62,000.00 | |
| (Note1) | |||
| 4 | Non Controlling Interest | 7,04,800.00 | |
| (Note1) | |||
| 19,04,800.00 | 19,04,800.00 |
Note 1
| Particulars | Amt |
| Consideration transferred | 12,00,000.00 |
| Add NCI (1762000*40%) | 7,04,800.00 |
| Net Asset value of non controlling interest | |
| Total | 19,04,800.00 |
| Less Fair Value of net assets (note 2) | 17,62,000.00 |
| Goodwill | 1,42,800.00 |
Note 2
| Fair Value of assets | 16,20,000.00 |
| Fair Value of intangible assets | 3,80,000.00 |
| Total Assets | 20,00,000.00 |
| Less : Liabilities | 2,38,000.00 |
| Fair value of net Assets | 17,62,000.00 |
| Liabilities | |
| Book value of assets | 11,78,000.00 |
| Less : Share Cap | 6,00,000.00 |
| Less: Retained earnings | 3,40,000.00 |
| Liabilities | 2,38,000.00 |
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