Consolidated Financial statements Questions Answers: Example 08
Channel: CLEARCAEXAMS
Date: 2020-05-02

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Question Dictionary: Question 08 Consolidated Financial statement (CFS) CA Final New Syllabus 2020 
A parent company (entity A) has an 80% owned subsidiary (entity B). Entity B makes an acquisition for cash of a third company (entity C), which it then wholly owns. Goodwill of 71,00,000 arises on the acquisition of entity C.
How should that goodwill be reflected in consolidated financial statement of entity A? Should it be
reflected as:
(a) 100% of the goodwill with 20% then being allocated to the non- controlling interest; or
(b) 80% of the goodwill that arises?
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