Consolidation: Non-controlling interests, Investment in associates and Accounting for foreign currency transactions
Assessment item 3 Assignment 2 Value: 20% Due date: 07-May-2018 Return date: 29-May-2018 Submission method options Alternative submission method Task You are required to complete all three questions below. A total of 50 marks are allocated to these questions, which will be converted to a final mark out of 20%. All workings, when appropriate, must be shown to substantiate your answers. Question 1 [34 marks] Topic 3: Consolidation: Non-controlling interests On 1 July 2016, Poppy Ltd acquired 80% of the issued shares of Sunshine Ltd for $240 000 when the equity of Sunshine Ltd consisted of: share capital $160000 general reserve $10000 retained earnings $59000 At this date, all identifiable assets and liabilities of Sunshine Ltd were recorded at fair value except…
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