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Griffin Plc purchased 60% of Nolan's Plc 2.4 million 1 shares on 1st January 2020. Consideration comprised of 2,400,000 cash at the acquisition date
Griffin Plc purchased 60% of Nolan's Plc 2.4 million 1 shares on 1st January 2020. Consideration comprised of 2,400,000 cash at the acquisition date and 1,200,000 of cash payable on 1st January 2022. Part of consideration was also 2 shares in Griffin Plc for every 5 shares purchased in Nolan Plc. The market value of Griffin's and Nolan's shares as at 1st January 2020 were 4 and 3 respectively. The fair value of Nolan's net assets as at 1st January 2020 was 7,000,000, and the non-controlling interest in Nolan was measured a fair value. Griffin Plc has a cost of capital of 10%. DF 0.826. Calculate the amount of goodwill to be shown in the statement of financial position as at 31st December 2020 by filling in the blanks: Consideration is calculated as the total of cash Blank 1 plus deferred cash Blank 2 plus shares Blank 3. The amount of NCI at the acquisition date is Blank 4. Net assets at the acquisition date is Blank 5 Goodwill amount to be presented in the consolidated statement of financial position is E Blank 6. Blank 1 Add your answer Blank 2 Add your answer Blank 3 Add your answer Blank 41 Add your answer
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