Posted: November 22nd, 2016

Prepare all consolidated journal entries including non-controlling interest and their posting to consolidated worksheet for the year ended 30 June 2014 for consolidation purpose of B Ltd and C Ltd.

Required:
1. Complete the acquisition analysis on 1 July 2010 for B Ltd’s investment in C Ltd as required by AASB3 and AASB10 and determine the amount of goodwill or gain on bargain purchase following the proportional/partial goodwill method.
2. Prepare the acquisition journal entries on 1 July 2010.
3. Prepare all consolidated journal entries including non-controlling interest and their posting to consolidated worksheet for the year ended 30 June 2014 for consolidation purpose of B Ltd and C Ltd.