On 31 March 2016, Sonny Ltd had issued share capital of 80,000 ordinary 1 shares and reserves
Question:
On 31 March 2016, Sonny Ltd had issued share capital of 80,000 ordinary £1 shares and reserves of £48,000. Two years later, the reserves had risen to £72,000 but the share capital was unchanged. Pops Ltd purchased shares in Sonny Ltd: (i) 20,000 shares on 31 March 2016 for £51,200 and (ii) 28,800 shares on 31 March 2018 for £46,400. Calculate the figure for goodwill that will appear in the consolidated statement of financial position as at 31 March 2018 and identify the pattern of its creation.
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To calculate the goodwill that will appear in the consolidated statement of financial position as at 31 March 2018 we first need to determine the fair ...View the full answer
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Related Book For 
Frank Woods Business Accounting Volume 2
ISBN: 9781292085050
13th Edition
Authors: Frank Wood, Alan Sangster
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