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Assignment question Student # XXXXXXXXXX Step 1: Select your student number from the drop down list 95 937000 42700 Sujan PATHAK Step 2: Check your Name to ensure you have selected your student number...

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Assignment question
    Student #     XXXXXXXXXX        Step 1:    Select your student number from the drop down list                                     95    937000    42700
    Sujan    PATHAK        Step 2:    Check your Name to ensure you have selected your student number co
ectly                                    %    Consideration    Profit
    Important: The file should be opened in Excel            Step 3:    Find your following assignment question and follow the directions .
                Step 4:    Prepare your assignment in Microsoft Word.
                Step 5:    Upload your assignment in Moodle before the due date.
    The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sure you do proper referencing, a WORD format file soft copy to be submitted in Moodle before the due date. Please ensure you provide your ID numbers and full name at the first page. Late assignments will be penalised, 5%of total available marks deduction per day.
    Assignment Question
    Nina Ltd purchased 95% of the issued shares of Carl Ltd for $937000 on 1 July 2018 when the equity of Carl Ltd was as follows;
    Share capital    374800
    Retained earnings    281100
    General reserve    140550    796450
    At this date, Carl Ltd had not recorded any goodwill, and all identifiable assets and liabilities were recorded at fair value except for the followings;
    Account    Cost    Ca
ying Amount    Fair value    Further life(Years)
    Inventories        $28,100    $30,900
    Land        $70,000    $77,000
    Vehicle     $108,750    $87,000    $104,000    5
    Carl Ltd identified at acquisition date a contingent liability related to a lawsuit where Carl Ltd was sued by a former supplier            $11,000
    Carl Ltd had unrecorded and internally generated Patent with the FairValue of:            $28,000
    Carl Ltd had unrecorded and internally generated in-process research and development with the FairValue of:            $21,000
    60% of inventory on hand at 1 July 2018 were sold by 30 June 2019. Further life of the assets are listed on the above table. Partial goodwill method is under use and Tax rate:30%
    Required
    1- Prepare the acquisition analysis at acquisition date.
    2- Prepare the business combination valuation entries and pre-acquisition entry at acquisition date.
    3- Prepare the journal entry to recognise NCI at acquisition date.
    4-Prepare the consolidation worksheet entries at 30 June 2019. Assume a profit for Carl Ltd for the year ended 30 June 2019 of $42700.
    5- Explain how the step 1 to 4 will change if the full goodwill method is used.
    6. List and explain the accounting standards issues relevant to the consolidation process.
    7. Compare in detail the cu
ent situation with the case that Nina Ltd acquires only 20% of issued shares of Carl Ltd with a significant influence on Carl Ltd.
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Instruction
    Student #     XXXXXXXXXX        Step 1:    Enter your student number
                Step 2:    Have a look to Customer Database sheet
    92            Step 3:    Read Yellow Cells Directions for             Red sheets
    38            Step 4:    Complete and calculate the pink cells
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Customers database
    %
    First name    Surname    ID number    Profit    Consideration    Asset 1    Asset 2    Asset 3    Asset 1-CA    Asset 2-CA    Asset 3-CA    Asset 3 cost    Asset 3 Acc-Dep    Asset 4 CA    Asset 4 Cost    Asset 3 Life    Asset 1-FV    Asset 2-FV    Asset 3-FV    Asset 4-FV    Control%    NCI    Asset 1-Diff    Asset 2-Diff    Asset 3-Diff    Asset 1-BCVR    Asset 2-BCVR    Asset 3-BCVR    Asset 4-BCVR    LiB FV-BCVR    Equity 1-Name    equity 2-Name    equity 3-Name    Equity 1    Equity 2    Equity 3    Total Equity    FVINA    NCI in Davis    Aggregate     Goodwill    Profit
    Malik Adnan Hussain    BHATTI     XXXXXXXXXX    18000    922000    Inventories    Land     Machinery     138,000    277,000    323,000    388,000    65,000    13,250    14,875    5    248,000    499,000    581,000    16,500    90    10    110000    222000    258000    77000    155400    180600    2275    35000    Share capital    Retained earnings    General reserve    323,000    138,000    111,000    572000    952275    95228    1017228    64953        - 104,220
    Sushma    TAMANG THAPA     XXXXXXXXXX    49000    2450000    Inventories    Land     Plant    368,000    735,000    858,000    1,030,000    172,000    36,250    39,375    10    662,000    1,323,000    1,544,000    42,500    91    9    294000    588000    686000    205800    411600    480200    4375    35000    Share capital    General reserve    Asset revaluation surpluss    858,000    368,000    294,000    1520000    2586975    232828    2682828    95853        - 216,860
    Sanjog    K C     XXXXXXXXXX    33000    1662000    Inventories    Land     Equipment     249,000    499,000    582,000    698,000    116,000    24,350    26,525    4    448,000    898,000    1,048,000    28,700    92    8    199000    399000    466000    139300    279300    326200    3045    35000    Share capital    Asset revaluation surpluss    Retained earnings    582,000    249,000    199,000    1030000    1742845    139428    1801428    58583        - 208,150
    Prapti    BHATTARAI     XXXXXXXXXX    44000    2178000    Inventories    Land     Furniture    327,000    653,000    762,000    914,000    152,000    32,150    33,225    8    589,000    1,175,000    1,372,000    34,300    90    10    262000    522000    610000    183400    365400    427000    1505    35000    Share capital    Retained earnings    General reserve    762,000    327,000    261,000    1350000    2292305    229231    2407231    114926        - 206,075
    Akashdeep    SINGH     XXXXXXXXXX    44000    2186000    Inventories    Land     Vehicle     328,000    656,000    765,000    918,000    153,000    32,250    33,375    5    590,000    1,181,000    1,377,000    34,500    91    9    262000    525000    612000    183400    367500    428400    1575    35000    Share capital    General reserve    Asset revaluation surpluss    765,000    328,000    262,000    1355000    2300875    207079    2393079    92204        - 246,500
    Simran Kaur    --     XXXXXXXXXX    52000    2620000    Inventories    Land     Machinery     393,000    786,000    917,000    1,100,000    183,000    38,750    43,125    10    707,000    1,415,000    1,651,000    47,500    92    8    314000    629000    734000    219800    440300    513800    6125    35000    Share capital    Asset revaluation surpluss    Retained earnings    917,000    393,000    314,000    1624000    2769025    221522    2841522    72497        - 231,990
    Sandesh    KHADKA     XXXXXXXXXX    55000    2732000    Inventories    Land     Plant    410,000    820,000    956,000    1,147,000    191,000    40,450    40,675    4    738,000    1,476,000    1,721,000    40,900    90    10    328000    656000    765000    229600    459200    535500    315    35000    Share capital    Retained earnings    General reserve    956,000    410,000    328,000    1694000    2883615    288362    3020362    136747        - 341,900
    Rabin    UPRETY     XXXXXXXXXX    64000    3210000    Inventories    Land     Equipment     482,000    963,000    1,124,000    1,349,000    225,000    47,650    51,475    8    868,000    1,733,000    2,023,000    55,300    91    9    386000    770000    899000    270200    539000    629300    5355    35000    Share capital    General reserve    Asset revaluation surpluss    1,124,000    482,000    385,000    1991000    3399855    305987    3515987    116132        - 304,550
    Subash    BANJARA     XXXXXXXXXX    67000    3330000    Inventories    Land     Furniture    500,000    999,000    1,166,000    1,399,000    233,000    49,450    54,175    5    900,000    1,798,000    2,099,000    58,900    92    8    400000    799000    933000    280000    559300    653100    6615    35000    Share capital    Asset revaluation surpluss    Retained earnings    1,166,000    500,000    400,000    2066000    3530015    282401    3612401    82386        - 376,240
    Usman    TARIQ     XXXXXXXXXX    76000    3800000    Inventories    Land     Vehicle     570,000    1,140,000    1,330,000    1,596,000    266,000    56,450    59,675    10    1,026,000    2,052,000    2,394,000    62,900    90    10    456000    912000    1064000    319200    638400    744800    4515    35000    Share capital    Retained earnings    General reserve    1,330,000    570,000    456,000    2356000    4027915    402792    4202792    174877        - 336,300
    Faiza    NISAR     XXXXXXXXXX    3000    152000    Inventories    Land     Machinery     23,000    46,000    53,000    64,000    11,000    1,750    2,625    4    41,000    83,000    95,000    3,500    91    9    18000    37000    42000    12600    25900    29400    1225    35000    Share capital    General reserve    Asset revaluation surpluss    53,000    23,000    18,000    94000    128125    11531    163531    35406        - 18,875
    Mohammad    ALAUDDIN     XXXXXXXXXX    4000    210000    Inventories    Land     Plant    32,000    63,000    74,000    89,000    15,000    2,650    3,975    8    58,000    113,000    133,000    5,300    92    8    26000    50000    59000    18200    35000    41300    1855    35000    Share capital    Asset revaluation surpluss    Retained earnings    74,000    32,000    25,000    131000    192355    15388    225388    33033        - 20,675
    Dipak    POKHAREL     XXXXXXXXXX    5000    272000    Inventories    Land     Equipment     41,000    82,000    95,000    114,000    19,000    3,550    5,325    5    74,000    148,000    171,000    7,100    90    10    33000    66000    76000    23100    46200    53200    2485    35000    Share capital    Retained earnings    General reserve    95,000    41,000    33,000    169000    258985    25899    297899    38914        - 31,400
    Sabin    KHADKA     XXXXXXXXXX    7000    330000    Inventories    Land     Furniture    50,000    99,000    116,000    139,000    23,000    4,450    6,675    10    90,000    178,000    209,000    8,900    91    9    40000    79000    93000    28000    55300    65100    3115    35000    Share capital    General reserve    Asset revaluation surpluss    116,000    50,000    40,000    206000    322515    29026    359026    36511        - 29,120
    Nitesh    SUBEDI     XXXXXXXXXX    7000    334000    Inventories    Land     Vehicle     50,000    100,000    117,000    140,000    23,000    4,450    6,675    4    90,000    180,000    211,000    8,900    92    8    40000    80000    94000    28000    56000    65800    3115    35000    Share capital    Asset revaluation surpluss    Retained earnings    117,000    50,000    40,000    207000    324915    25993    359993    35078        - 41,475
    Shishir Kumar    ATAL     XXXXXXXXXX    8000    404000    Inventories    Land     Machinery     61,000    121,000    141,000    169,000    28,000    5,550    8,325    8    110,000    218,000    254,000    11,100    90    10    49000    97000    113000    34300    67900    79100    3885    35000    Share capital    Retained earnings    General reserve    141,000    61,000    48,000    250000    400185    40019    444019    43834        - 38,638
    Sandip    POUDEL     XXXXXXXXXX    11000    540000    Inventories    Land     Plant    81,000    162,000    189,000    227,000    38,000    7,550    11,325    5    146,000    292,000    340,000    15,100    91    9    65000    130000    151000    45500    91000    105700    5285    35000    Share capital    General reserve    Asset revaluation surpluss    189,000    81,000    65,000    335000    547485    49274    589274    41789        - 60,960
    Anish    SEDHAI     XXXXXXXXXX    11000    542000    Inventories    Land     Equipment     81,000    163,000    190,000    228,000    38,000    7,550    11,325    10    146,000    293,000    342,000    15,100    92    8    65000    130000    152000    45500    91000    106400    5285    35000    Share capital    Asset revaluation surpluss    Retained earnings    190,000    81,000    65,000    336000    549185    43935    585935    36750        - 47,800
    Bhuwan    BHATT     XXXXXXXXXX    14000    686000    Inventories    Land     Furniture    103,000    206,000    240,000    288,000    48,000    9,750    14,625    4    185,000    371,000    432,000    19,500    90    10    82000    165000    192000    57400    115500    134400    6825    35000    Share capital    Retained earnings    General reserve    240,000    103,000    82,000    425000    704125    70413    756413    52288        - 85,400
    Aakash    GAIRE     XXXXXXXXXX    14000    712000    Inventories    Land     Vehicle     107,000    214,000    249,000    299,000    50,000    10,150    10,225    8    193,000    385,000    448,000    10,300    91    9    86000    171000    199000    60200    119700    139300    105    35000    Share capital    General reserve    Asset revaluation surpluss    249,000    107,000    85,000    441000    725305    65277    777277    51972        - 67,988
    Sudikshya Pratapeswari    RANA     XXXXXXXXXX    15000    736000    Inventories    Land     Machinery     110,000    221,000    258,000    310,000    52,000    10,450    10,675    5    198,000    398,000    464,000    10,900    92    8    88000    177000    206000    61600    123900    144200    315    35000    Share capital    Asset revaluation surpluss    Retained earnings    258,000    110,000    88,000    456000    751015    60081    796081    45066        - 82,720
    Sujan    KAFLE     XXXXXXXXXX    15000    746000    Inventories    Land     Plant    112,000    224,000    261,000    313,000    52,000    10,650    10,975    10    202,000    403,000    470,000    11,300    90    10    90000    179000    209000    63000    125300    146300    455    35000    Share capital    Retained earnings    General reserve    261,000    112,000    90,000    463000    763055    76306    822306    59251        - 66,270
    Srijana    GURUNG     XXXXXXXXXX    16000    798000    Inventories    Land     Equipment     120,000    239,000    279,000    335,000    56,000    11,450    12,175    4    216,000    430,000    502,000    12,900    91    9    96000    191000    223000    67200    133700    156100    1015    35000    Share capital    General reserve    Asset revaluation surpluss    279,000    120,000    96,000    495000    818015    73621    871621    53606        - 100,025
    Ananta    GURUNG     XXXXXXXXXX    16000    818000    Inventories    Land     Furniture    123,000    245,000    286,000    343,000    57,000    11,750    12,625    8    221,000    441,000    515,000    13,500    92    8    98000    196000    229000    68600    137200    160300    1225    35000    Share capital    Asset revaluation surpluss    Retained earnings    286,000    123,000    98,000    507000    839325    67146    885146    45821        - 77,625
    Sujan    PATHAK     XXXXXXXXXX    18000    922000    Inventories    Land     Vehicle     138,000    277,000    323,000    388,000    65,000    13,250    14,875    5    248,000    499,000    581,000    16,500    90    10    110000    222000    258000    77000    155400    180600    2275    35000    Share capital    Retained earnings    General reserve    323,000    138,000    111,000    572000    952275    95228    1017228    64953        - 104,220
    Saroj    DANUWAR     XXXXXXXXXX    19000    938000    Inventories    Land     Machinery     141,000    281,000    328,000    394,000    66,000    13,550    15,325    10    254,000    506,000    590,000    17,100    91    9    113000    225000    262000    79100    157500    183400    2485    35000    Share capital    General reserve    Asset revaluation surpluss    328,000    141,000    113,000    582000    969485    87254    1025254    55769        - 83,060
    Avidh    SHRESTHA     XXXXXXXXXX    21000    1064000    Inventories    Land     Plant    160,000    319,000    372,000    446,000    74,000    15,450    18,175    4    288,000    574,000    670,000    20,900    92    8    128000    255000    298000    89600    178500    208600    3815    35000    Share capital    Asset revaluation surpluss    Retained earnings    372,000    160,000    128,000    660000    1105515    88441    1152441    46926        - 133,700
    Prapti    BUDHATHOKI     XXXXXXXXXX    22000    1086000    Inventories    Land     Equipment     163,000    326,000    380,000    456,000    76,000    15,750    18,625    8    293,000    587,000    684,000    21,500    90    10    130000    261000    304000    91000    182700    212800    4025    35000    Share capital    Retained earnings    General reserve    380,000    163,000    130,000    673000    1128525    112853    1198853    70328        - 102,250
    Manish    GIRI     XXXXXXXXXX    22000    1112000    Inventories    Land     Furniture    167,000    334,000    389,000    467,000    78,000    16,150    19,225    5    301,000    601,000    700,000    22,300    91    9    134000    267000    311000    93800    186900    217700    4305    35000    Share capital    General reserve    Asset revaluation surpluss    389,000    167,000    133,000    689000    1156705    104103    1216103    59398        - 126,260
    Dikshya    BUDHATHOKI     XXXXXXXXXX    28000    1376000    Inventories    Land     Vehicle     206,000    413,000    482,000    578,000    96,000    20,050    20,075    10    371,000    743,000    868,000    20,100    92    8    165000    330000    386000    115500    231000    270200    35    35000    Share capital    Asset revaluation surpluss    Retained earnings    482,000    206,000    165,000    853000    1434735    114779    1490779    56044        - 121,240
    Muhammad Jamal    MEHDI     XXXXXXXXXX    31000    1562000    Inventories    Land     Machinery     234,000    469,000    547,000    656,000    109,000    22,850    24,275    4    421,000    844,000    985,000    25,700    90    10    187000    375000    438000    130900    262500    306600    1995    35000    Share capital    Retained earnings    General reserve    547,000    234,000    187,000    968000    1634995    163500    1725500    90505        - 195,625
    Pradip    SAPKOTA     XXXXXXXXXX    34000    1714000    Inventories    Land     Plant    257,000    514,000    600,000    720,000    120,000    25,150    27,725    8    463,000    925,000    1,080,000    30,300    91    9    206000    411000    480000    144200    287700    336000    3605    35000    Share capital    General reserve    Asset revaluation surpluss    600,000    257,000    206,000    1063000    1799505    161955    1875955    76450        - 162,700
    Ruhina    THAPA MAGAR     XXXXXXXXXX    35000    1732000    Inventories    Land     Equipment     260,000    520,000    606,000    727,000    121,000    25,450    28,175    5    468,000    936,000    1,091,000    30,900    92    8    208000    416000    485000    145600    291200    339500    3815    35000    Share capital    Asset revaluation surpluss    Retained earnings    606,000    260,000    208,000    1074000    1819115    145529    1877529    58414        - 195,440
    Gopal    BARAL     XXXXXXXXXX    35000    1736000    Inventories    Land     Furniture    260,000    521,000    608,000    730,000    122,000    25,450    28,175    10    468,000    938,000    1,094,000    30,900    90    10    208000    417000    486000    145600    291900    340200    3815    35000    Share capital    Retained earnings    General reserve    608,000    260,000    208,000    1076000    1822515    182252    1918252    95737        - 153,160
    Tulsi    SHRESTHA     XXXXXXXXXX    35000    1738000    Inventories    Land     Vehicle     261,000    521,000    608,000    730,000    122,000    25,550    28,325    4    470,000    938,000    1,094,000    31,100    91    9    209000    417000    486000    146300    291900    340200    3885    35000    Share capital    General reserve    Asset revaluation surpluss    608,000    261,000    209,000    1078000    1825285    164276    1902276    76991        - 217,700
    Nisha    SHRESTHA KARMACHARYA     XXXXXXXXXX    36000    1784000    Inventories    Land     Machinery     268,000    535,000    624,000    749,000    125,000    26,250    29,375    8    482,000    963,000    1,123,000    32,500    92    8    214000    428000    499000    149800    299600    349300    4375    35000    Share capital    Asset revaluation surpluss    Retained earnings    624,000    268,000    214,000    1106000    1874075    149926    1933926    59851        - 168,400
    Maricel Gallo    BERNADAS     XXXXXXXXXX    36000    1804000    Inventories    Land     Plant    271,000    541,000    631,000    757,000    126,000    26,550    29,825    5    488,000    974,000    1,136,000    33,100    90    10    217000    433000    505000    151900    303100    353500    4585    35000    Share capital    Retained earnings    General reserve    631,000    271,000    216,000    1118000    1896085    189609    1993609    97524        - 204,240
    Nisha    RAWAL     XXXXXXXXXX    39000    1964000    Inventories    Land     Equipment     295,000    589,000    687,000    824,000    137,000    28,950    33,425    10    531,000    1,060,000    1,237,000    37,900    91    9    236000    471000    550000    165200    329700    385000    6265    35000    Share capital    General reserve    Asset revaluation surpluss    687,000    295,000    236,000    1218000    2069165    186225    2150225    81060        - 174,290
    Sworup    SHRESTHA KANDEU     XXXXXXXXXX    40000    1996000    Inventories    Land     Furniture    299,000    599,000    699,000    839,000    140,000    29,350    34,025    4    538,000    1,078,000    1,258,000    38,700    92    8    239000    479000    559000    167300    335300    391300    6545    35000    Share capital    Asset revaluation surpluss    Retained earnings    699,000    299,000    240,000    1238000    2103445    168276    2164276    60831        - 249,625
    Pinky Rajeshkumar    HARIRAMANI     XXXXXXXXXX    40000    2014000    Inventories    Land     Vehicle     302,000    604,000    705,000    846,000    141,000    29,650    34,475    8    544,000    1,087,000    1,269,000    39,300    90    10    242000    483000    564000    169400    338100    394800    6755    35000    Share capital    Retained earnings    General reserve    705,000    302,000    242,000    1249000    2123055    212306    2226306    103251        - 191,088
    Zigar    MAHARJAN     XXXXXXXXXX    42000    2092000    Inventories    Land     Machinery     314,000    628,000    732,000    878,000    146,000    30,850    31,275    5    565,000    1,130,000    1,318,000    31,700    91    9    251000    502000    586000    175700    351400    410200    595    35000    Share capital    General reserve    Asset revaluation surpluss    732,000    314,000    251,000    1297000    2199895    197991    2289991    90096        - 236,180
    Kishor    BIST     XXXXXXXXXX    43000    2150000    Inventories    Land     Plant    323,000    645,000    753,000    904,000    151,000    31,750    32,625    10    581,000    1,161,000    1,355,000    33,500    92    8    258000    516000    602000    180600    361200    421400    1225    35000    Share capital    Asset revaluation surpluss    Retained earnings    753,000    323,000    258,000    1334000    2263425    181074    2331074    67649        - 190,310
    Sujit    DISHA     XXXXXXXXXX    46000    2318000    Inventories    Land     Equipment     348,000    695,000    811,000    973,000    162,000    34,250    36,375    4    626,000    1,251,000    1,460,000    38,500    90    10    278000    556000    649000    194600    389200    454300    2975    35000    Share capital    Retained earnings    General reserve    811,000    348,000    278,000    1437000    2443075    244308    2562308    119233        - 290,525
    Anish    SILWAL     XXXXXXXXXX    47000    2326000    Inventories    Land     Furniture    349,000    698,000    814,000    977,000    163,000    34,350    36,525    8    628,000    1,256,000    1,465,000    38,700    91    9    279000    558000    651000    195300    390600    455700    3045    35000    Share capital    General reserve    Asset revaluation surpluss    814,000    349,000    279,000    1442000    2451645    220648    2546648    95003        - 219,525
    Sonika    BALAMI     XXXXXXXXXX    48000    2416000    Inventories    Land     Vehicle     362,000    725,000    846,000    1,015,000    169,000    35,650    38,475    5    652,000    1,305,000    1,523,000    41,300    92    8    290000    580000    677000    203000    406000    473900    3955    35000    Share capital    Asset revaluation surpluss    Retained earnings    846,000    362,000    290,000    1498000    2549855    203988    2619988    70133        - 273,440
    Ajit    BOMJAN     XXXXXXXXXX    48000    2424000    Inventories    Land     Machinery     364,000    727,000    848,000    1,018,000    170,000    35,850    38,775    10    655,000    1,309,000    1,526,000    41,700    90    10    291000    582000    678000    203700    407400    474600    4095    35000    Share capital    Retained earnings    General reserve    848,000    364,000    291,000    1503000    2557795    255780    2679780    121985        - 215,060
    Anish    GARTAULA     XXXXXXXXXX    51000    2552000    Inventories    Land     Plant    383,000    766,000    893,000    1,072,000    179,000    37,750    41,625    4    689,000    1,379,000    1,607,000    45,500    91    9    306000    613000    714000    214200    429100    499800    5425    35000    Share capital    General reserve    Asset revaluation surpluss    893,000    383,000    306,000    1582000    2695525    242597    2794597    99072        - 319,475
    Hyun Joo    KIM     XXXXXXXXXX    51000    2566000    Inventories    Land     Equipment     385,000    770,000    898,000    1,078,000    180,000    37,950    41,925    8    693,000    1,386,000    1,616,000    45,900    92    8    308000    616000    718000    215600    431200    502600    5565    35000    Share capital    Asset revaluation surpluss    Retained earnings    898,000    385,000    308,000    1591000    2710965    216877    2782877    71912        - 243,175
    Jeevan    GAUTAM     XXXXXXXXXX    53000    2662000    Inventories    Land     Furniture    399,000    799,000    932,000    1,118,000    186,000    39,350    44,025    5    718,000    1,438,000    1,678,000    48,700    90    10    319000    639000    746000    223300    447300    522200    6545    35000    Share capital    Retained earnings    General reserve    932,000    399,000    319,000    1650000    2814345    281435    2943435    129090        - 300,780
    Alonika    SHAH     XXXXXXXXXX    54000    2682000    Inventories    Land     Vehicle     402,000    805,000    939,000    1,127,000    188,000    39,650    44,475    10    724,000    1,449,000    1,690,000    49,300    91    9    322000    644000    751000    225400    450800    525700    6755    35000    Share capital    General reserve    Asset revaluation surpluss    939,000    402,000    322,000    1663000    2836655    255299    2937299    100644        - 237,130
    Roshes    SHRESTHA     XXXXXXXXXX    54000    2694000    Inventories    Land     Machinery     404,000    808,000    943,000    1,132,000    189,000    39,850    44,775    4    727,000    1,454,000    1,697,000    49,700    92    8    323000    646000    754000    226100    452200    527800    6895    35000    Share capital    Asset revaluation surpluss    Retained earnings    943,000    404,000    323,000    1670000    2847995    227840    2921840    73845        - 337,125
    Alisha    BARUWAL     XXXXXXXXXX    54000    2706000    Inventories    Land     Plant    406,000    812,000    947,000    1,136,000    189,000    40,050    40,075    8    731,000    1,462,000    1,705,000    40,100    90    10    325000    650000    758000    227500    455000    530600    35    35000    Share capital    Retained earnings    General reserve    947,000    406,000    325,000    1678000    2856135    285614    2991614    135479        - 256,363
    Mani    MAHARJAN      XXXXXXXXXX    54000    2714000    Inventories    Land     Equipment     407,000    814,000    950,000    1,140,000    190,000    40,150    40,225    5    733,000    1,465,000    1,710,000    40,300    91    9    326000    651000    760000    228200    455700    532000    105    35000    Share capital    General reserve    Asset revaluation surpluss    950,000    407,000    326,000    1683000    2864005    257760    2971760    107755        - 307,200
    Prajwal Bajra    BAJRACHARYA     XXXXXXXXXX    55000    2750000    Inventories    Land     Furniture    413,000    825,000    963,000    1,156,000    193,000    40,750    41,125    10    743,000    1,485,000    1,733,000    41,500    92    8    330000    660000    770000    231000    462000    539000    525    35000    Share capital    Asset revaluation surpluss    Retained earnings    963,000    413,000    330,000    1706000    2903525    232282    2982282    78757        - 243,410
    Phoutthakone    DOUANGPHACHANH     XXXXXXXXXX    56000    2788000    Inventories    Land     Vehicle     418,000    836,000    976,000    1,171,000    195,000    41
Answered Same Day May 28, 2021

Solution

Pranjal answered on May 29 2021
147 Votes
Q1
        Calculation of Goodwill
        Particulars    Amount $
        Share Capital    374,800
        Retained Earnings    281,100
        Net Profit    0
        General Reserve    140,550
        Total Net Assets    796,450
        Add: Increase in Fair Value of Inventory    1,960
        Add: Increase in Fair Value of Land    4,900
        Add: Increase in Fair Value of Vehicle    11,900
        Revised Net Assets    815,210
        Add: Fair Value of Unrecorded Patent    19,600
        Add: Fair Value of Unrecorded R&D    14,700
        Less: Fair Value of Contingent Liability    7,700
        Final Net Assets    841,810
        Value of 95% of Business of Carl Ltd.    799,720
        Purchase Consideration    937,000
        Goodwill    137,281
Q2
        Particulars    Dr. $    Cr. $
        Share Capital    374,800
        Retained Earnings    281,100
        General Reserve    140,550
        Business Combination Valuation Reserve    140,550
        Shares in Carl Ltd.        937,000
        [Being net worth of...
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