Alrept all the Questions Questions 1 (5+5) A) On 1 January 2019 Panther Company acquired 30 percent of Ather Inc. common shares for the cash price of Rs 500.000 (both companies are fictitious). It is determined that Panther has the ability to exert significant influence on Ather's financial med operating decisions Tlie following information concerning Ather's assets and liabilities on 1 January 2019 is provided Ather, Inc Current assets Plantind equipment Difference 0 300.000 Book Value Fair Value Rs.100,000 Rs 100.000 1.900.000 2.200,000 Rs 2.000.000 Rs 2.300.000 Rs.300,000 800.000 800.000 0 Rs.1,200,000 Rs 1,500,000 Liabilities Net wets Rs 300.000 The plant and equipment are depreciated on a straight-line basis and have 10 years of remaining life. Ather reports net income for 2019 of Rs.100.000 and pays dividends of Rs.50,000 Cakulate the following: 1. Goodwill 2 Balance in the investment in associate (Ather) at the end of 2019. B) Jones Company ons 25 percent of Jason Company and appropriately applies the equity method of accounting Excess amortization related to undervalued assess at the time of the investment is 58.000 per year. During 2009 Jones sold 596.000 of inventory to Jason for $160,000. Jasou resold $120,000 of the inventory during 2009. The remixinder was sold in 2010. Jason reports income from its operations of $800.000 in 2009 and 5820,000 in 2010 (Downstream Sale) 1. Calculate the equity income to be reported as a line item op Tunes's 2009 incom statement. 2. Calculate the equity income to be reported as a line ite 9010 statement MIMO Alrept all the Questions Questions 1 (5+5) A) On 1 January 2019 Panther Company acquired 30 percent of Ather Inc. common shares for the cash price of Rs 500.000 (both companies are fictitious). It is determined that Panther has the ability to exert significant influence on Ather's financial med operating decisions Tlie following information concerning Ather's assets and liabilities on 1 January 2019 is provided Ather, Inc Current assets Plantind equipment Difference 0 300.000 Book Value Fair Value Rs.100,000 Rs 100.000 1.900.000 2.200,000 Rs 2.000.000 Rs 2.300.000 Rs.300,000 800.000 800.000 0 Rs.1,200,000 Rs 1,500,000 Liabilities Net wets Rs 300.000 The plant and equipment are depreciated on a straight-line basis and have 10 years of remaining life. Ather reports net income for 2019 of Rs.100.000 and pays dividends of Rs.50,000 Cakulate the following: 1. Goodwill 2 Balance in the investment in associate (Ather) at the end of 2019. B) Jones Company ons 25 percent of Jason Company and appropriately applies the equity method of accounting Excess amortization related to undervalued assess at the time of the investment is 58.000 per year. During 2009 Jones sold 596.000 of inventory to Jason for $160,000. Jasou resold $120,000 of the inventory during 2009. The remixinder was sold in 2010. Jason reports income from its operations of $800.000 in 2009 and 5820,000 in 2010 (Downstream Sale) 1. Calculate the equity income to be reported as a line item op Tunes's 2009 incom statement. 2. Calculate the equity income to be reported as a line ite 9010 statement MIMO