Non-controlling interest in the acquiree (192K x 25%) 48,000 Previously held equity interest in the acquire - Total 264,000 Fa

Net consolidation adjustments (10,800 ) ( - ) (10,800) Profits before FVA 277,20 0 60,000 337,200 Depreciation of FVA ( - ) (
 in the acquire - Total 264,000 Fair value of net identifiable assets acquired (192,000) Goodwill 72,000 Step 4: Non-controlling interest in

337,200 Depreciation of FVA ( - ) ( - ) ( - ) Impairment loss on goodwill ( - ) ( - ) ( - ) Consolidated profit 277,200 60,000 337,200 Step 7: P
Step 4: Non-controlling interest in net assets Night's net assets at fair value – Dec. 31, 20x1 (Step 2) 252,000 Multiply by: NCI percentage

77,200 60,000 337,200 Step 7: Profit or loss attributable to owners of pare Profit or loss attributable to owners of parent and NCI Owner
2,000 Multiply by: NCI percentage 25% Total 63,000 Add: Goodwill to NCI net of accumulated impairment losses - * Non-controlling inte

o owners of parent and NCI Owners of parent NCI Consoli- dated Day's profit before FVA (Step 6) 277,200 N/A 277,200 Share in Night’s
ent losses - * Non-controlling interest in net assets – Dec. 31, 20x1 63,000 *No goodwill is attributed to NCI because NCI is measured at

200 N/A 277,200 Share in Night’s profit before FVA (c) 45,000 15,000 60,000 Depreciation of FVA ( - ) ( - ) ( - ) Share in impairment loss on
o NCI because NCI is measured at proportionate share. Step 5: Consolidated retained earnings Day's retained earnings – Dec. 31, 20x1 132

) ( - ) Share in impairment loss on goodwill ( - ) ( - ) ( - ) Totals 322,200 15,000 337,200 (c) Shares in Night’s profit before FVA (Step 6 ): (6
ained earnings – Dec. 31, 20x1 132,000 Consolidation adjustments: Day's share in the net change in Night's net assets (a) 45,000 Unamort

ht’s profit before FVA (Step 6 ): (60,000 x 75%); (60,000 x 25%) Requirement (d): Consolidated ASSETS Investment in subsidiary (at cost) -
ht's net assets (a) 45,000 Unamortized deferred gain (Downstream only) - (Step 1) (10,800 ) Gain or loss on extinguishment of bonds - Imp

nvestment in subsidiary (at cost) - eliminated - Equipment - net (Requirement 'b') 697,200 Other assets (240,000 + 54,000) 294,000 Go
on extinguishment of bonds - Impairment loss on goodwill attributable to Parent - Net consolidation adjustments 34,20 0 Consolidated r

ts (240,000 + 54,000) 294,000 Goodwill (Step 3) 72,000 TOTAL ASSETS 1,063,200 LIABILITIES AND EQUITY Liabilities (84,000 + 30,000) 11
ustments 34,20 0 Consolidated retained earnings – Dec. 31, 20x1 166,200 (a) Net change in Net