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please help asap pls !!!!! Aston Ltd is a luxury goods manufacturer in the process of diversifying its business. Aston Ltd has reached an agreement
please help asap pls !!!!!
Aston Ltd is a luxury goods manufacturer in the process of diversifying its business. Aston Ltd has reached an agreement with Chivas Ltd, a small basic materials company, to take over Chivas Ltd. The statements of financial position of Aston Ltd and Chivas Ltd as at 31st December 2019 are as follows: Assets \begin{tabular}{|rr} Aston Ltd (f000) & Chivas Ltd (f000) \\ \hline & \\ \hline 57,000 & 9,600 \\ 7,200 & \\ \hline 64,200 & \\ 55,200 & 14,040 \\ \hline 119,400 & \\ \hline & 9,040 \\ \hline 84,000 & 2,400 \\ \hline 15,000 & 1,440 \\ \hline 99,000 & 12,840 \\ \hline 20,400 & 1,800 \\ \hline 119,400 & 14,640 \\ \hline \end{tabular} - On 31st December 2016, Aston Ltd paid 7,200,000 to acquire 60% ordinary shares and 25% - On the acquisition date, the retained earnings of Chivas Ltd were 960,000 and all its assets - Chivas Ltd has not issued any new shares since being acquired by Aston Ltd. - There has been a 25% impairment on goodwill since acquisition. - Non-controlling interests are valued at the proportionate share of the subsidiary's net assets. Required: a) Prepare the Consolidated Statement of Financial Position of Aston Group as at 31st December 2019. Show all your workings clearly. Assume that on 31st December 2016 , Aston Ltd had acquired 100% ordinary shares and 60% preference shares of Chivas Ltd for a price of 15,000,000. Assuming all other information remains the same, calculate the amount of goodwill in the consolidated statements as at 31st December 2019 Step by Step Solution
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