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  3. b. paku bhd acquired a 70% interest in oste bhd on

B. Paku Bhd acquired a 70% interest in Oste Bhd on June 2015 for RM35,500,000....

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Accounting

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B. Paku Bhd acquired a 70% interest in Oste Bhd on June 2015 for RM35,500,000. On this date, the ordinary shares of Oste Bhd was RM35,000,000 and the retained profit was RM10,000,000 On 1 January 2016, Oste Bhd acquired a 60% interest in Jojo Bhd for RM23,000,000. The retained profit and ordinary shares of Jojo Bhd on this date were RM5,000,000 and RM25,000,000 respectively. It is the group's policy to value non-controlling interest at their proportionate share of their fair values of the net assets of the subsidiaries on the dates of acquisitions. Required: Determine the goodwill on consolidation for the ultimate parent using the single stage method of consolidation

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