The goodwill recognized on the date Hornet gained control over Alton is?

On 1 January 2009, Hornet plc acquired 20% of equity shares of Alton plc for $ 2 M. The fair value of net assets of Alton at this date was $6. Alton earned a profit of $ 2 M for year ended 31/12/2009 and paid $ 1 dividend. On 1 January 2010, Hornet acquired an additional 75% in Alton for a further cash payment of $ 6 M. The fair value of identifiable net assets of Alton at 1 January 2010 was $ 9M. The full goodwill method is used.

Select one: a. Negative goodwill of 1 b. Negative goodwill of 1.5 c. 2 d. 1

25) The FV of consideration paid (purchase price) to calculate the value of goodwill on the date Hornet gained control over Alton on 1 January 2010 is?

On 1 January 2009, Hornet plc acquired 20% of equity shares of Alton plc for $ 2 M. The fair value of net assets of Alton at this date was $6. Alton earned a profit of $ 2 M for year ended 31/12/2009 and paid $ 1 dividend. On 1 January 2010, Hornet acquired an additional 75% in Alton for a further cash payment of $ 6 M. The fair value of identifiable net assets of Alton at 1 January 2010 was $ 9M. The full goodwill method is used.

Select one: a. 7.6 b. 1.6 c. 6 d. 8.2

24) The gain/loss on re-measuring the previously held 20% interest in Alton on 1 January 2010 is?

On 1 January 2009, Hornet plc acquired 20% of equity shares of Alton plc for $ 2 M. The fair value of net assets of Alton at this date was $6. Alton earned a profit of $ 2 M for year ended 31/12/2009 and paid $ 1 dividend. On 1 January 2010, Hornet acquired an additional 75% in Alton for a further cash payment of $ 6 M. The fair value of identifiable net assets of Alton at 1 January 2010 was $ 9M. The full goodwill method is used.

Select one: a. 1.60 Loss b. 0.60 Loss c. 0.90 Gain d. 0.80 Gain

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