1. a) Explain the concepts: Single Entity Concept, Control and Fair value. 05 b) Paul acquired 75% of the share capital of Simon on 1 January 2011. On this date the net Assets 05 of Simon were Tk. 80,000. The Non-controlling interest was calculated using the fair value method, which was calculated as Tk.40, 000 at the date of acquisition. At January 2013 the net assets of Simon were Tk. 120,000 and goodwill had been impaired by Tk. 10,000. Required: What was the value of Non-controlling interest at 1 January 2013? What will be the accounting treatment of a non-controlling interest? c) On 30 September 2011, GHI purchased 100% of the ordinary share capital of JKL for Tk.1.8 05 million. The book value of JKL's net assets at the date of acquisition was Tk. 1.35 million. A valuation exercise showed that the fair value of JKL'S property, plant and equipment at the date was 100,000 greater than book value and JKL immediately incorporated this revaluation into its own books. Required: Calculate goodwill on acquisition in accordance with IFRS 3 Business Combinations. What will be the accounting treatment of goodwill