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please help me i'll rate you! EH} Cambell's policy is to value the noncontrolling interest at fair value at the date of acquisition. For this

please help me i'll rate you!

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EH} Cambell's policy is to value the noncontrolling interest at fair value at the date of acquisition. For this purpose, Soup's share mice at that date can be deemed to be representative of the fair value of the shares held by the non controlling interest. Sales from ambellto Soup throughout the year ended 3i] September 202!) had consistently been RMBDlD per month. Cambell made a markup on cost of 25% on these sales. Soup had RM1.5 million of these goods in inventory as at 3|] September 202i]. Cambell's investment income is a dividend received from its investment in a 40% owned associate which it has held for several years. The underlying earnings for the associate for the year ended 3D September 202D were RMED million. Although Soup has been protable since its acquisition by Cambell the market for Soup's products has been badly hit in recent months and Embell has calculated that the goodwill has been impaired by RMZ milion as at 3i] September 211120. Required: {bi {a} Calculate the consolidated goodwill at the date of acquisition of Soup Berhad. [5 marlcs] Prepare the consolidated income statement for Cambell for the year ended 31!} September ZDZD. [2D marks] The following information is relevant: At the date of acquisition, the fair values of Soup's assets were equal to their carrying amounts with the exception of two items: - An item of plant had a fair value of RM1.8 million above its carrying amount. The remaining life of the plant at the date of acquisition was five years. Depreciation is charged to cost of sales. Soup had a contingent liability which Cambell estimated to have a fair value of RM450,000. This has not changed as at 30 September 2020. Soup has not incorporated these fair value changes into its financial statements. ...3/

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