Make sure you use FV of Net Assets Acquired

NotesQuiz

A subsidiary is brought into group accounts at FAIR value at acquisition

Here's a subsidiary at Book Value

Property, plant and equipment 47,400
Financial asset: equity investments 7,500
Inventory 20,400
Trade Receivables 14,800
Bank 2,100
Equity shares of $1 each 40,000
Retained earnings  26,600
10% loan notes 8,000
Trade Payables 17,600
NET ASSETS at book value 66,600

The FAIR Values of the above net assets were the same as their book value with the exception of PPE which had a FV $3000 in excess of the book value

Here's the subsidiary at FAIR Value

Property, plant and equipment 47,400 + 3,000
Financial asset: equity investments 7,500
Inventory 20,400
Trade Receivables 14,800
Bank 2,100
Equity shares of $1 each 40,000
Retained earnings  26,600
Revaluation Reserve 3,000
10% loan notes 8,000
Trade Payables 17,600
NET ASSETS at fair value 69,600
Once the FV of the NA has been calculated, the total goes into the goodwill calculation as follows:

FV of Consideration X
NCI X
FV of Net Assets Acquired (X)
Goodwill X
NotesQuiz