Assignment: I Co bought 60% of the shares of G Co for $100,000 when the G's retained earnings were $40,000. The I Co directors have valued the goodwill attributable to the NCI at $5,000. Goodwill has not been impaired since acquisition. At 30 June, 2010, the respective Statement of Financial Position were: 1 Co G co $ S Investment in Guido Other Assets 190,000 100,000 60.000 160,000 190,000 80,000 $ 1 equity shares 70,000 Retained Earnings 110,000 90.000 160,000 190.000 Prepare the Consolidated Statement of Financial Position as at 30 June, 2010. 1. Using I Co and G Co, but with the information that the value of the NCI investment was estimated at $55,000, prepare the Consolidated Statement of Financial Position as at 30 June 2010 2. Using I Co and G Co, but with the information that the G Co shares were worth $1.65 immediately before the acquisition by I Co, prepare consolidated Statement of Financial Position as at 30 June, 2010. 3. Recalculate W2, W3 and W4 for the other I Co/G Co example on the assumption that goodwill is to be impaired by 10% and re-prepare the Consolidated Statement of Financial Position. Assignment: I Co bought 60% of the shares of G Co for $100,000 when the G's retained earnings were $40,000. The I Co directors have valued the goodwill attributable to the NCI at $5,000. Goodwill has not been impaired since acquisition. At 30 June, 2010, the respective Statement of Financial Position were: 1 Co G co $ S Investment in Guido Other Assets 190,000 100,000 60.000 160,000 190,000 80,000 $ 1 equity shares 70,000 Retained Earnings 110,000 90.000 160,000 190.000 Prepare the Consolidated Statement of Financial Position as at 30 June, 2010. 1. Using I Co and G Co, but with the information that the value of the NCI investment was estimated at $55,000, prepare the Consolidated Statement of Financial Position as at 30 June 2010 2. Using I Co and G Co, but with the information that the G Co shares were worth $1.65 immediately before the acquisition by I Co, prepare consolidated Statement of Financial Position as at 30 June, 2010. 3. Recalculate W2, W3 and W4 for the other I Co/G Co example on the assumption that goodwill is to be impaired by 10% and re-prepare the Consolidated Statement of Financial Position