Phantom Acquired 70% Of The $100,000 Equity Share Capital Of Ghost, Its Only Subsidiary, For $200,000 On 1 January 20X9 When The Retained Earnings Of Ghost Were $156,000. At 31 December 20X9 Retained Earnings Are As Follows. $ Phantom 275,000 Ghost 177,000 Phantom Considers That Goodwill On Acquisition Is Impaired By 50%. Non-controlling Interest Is Measured At Fair Value, Estimated At $82,800. What Are Group Retained Earnings At 31 December 20X9?

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Phantom acquired 70% of the $100,000 equity share capital of Ghost, its only subsidiary, for $200,000 on 1 January 20X9 when the retained earnings of Ghost were $156,000. At 31 December 20X9 retained earnings are as follows. $ Phantom 275,000 Ghost 177,000 Phantom considers that goodwill on acquisition is impaired by 50%. Non-controlling interest is measured at fair value, estimated at $82,800. What are group retained earnings at 31 December 20X9?

- November 14, 2022 - Edwin Tunner

Phantom acquired 70% of the $100,000 equity share capital of Ghost, its only subsidiary, for $200,000 on 1

January 20X9 when the retained earnings of Ghost were $156,000.

At 31 December 20X9 retained earnings are as follows.

Phantom 275,000

Ghost 177,000

Phantom considers that goodwill on acquisition is impaired by 50%. Non-controlling interest is measured at

fair value, estimated at $82,800.

What are group retained earnings at 31 December 20X9?

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