Case - Who's in Charge?
Required:
1. How should Phoenix account for its acquisition of 100 percent of equity interests in Darwin and Thunderbird: as a merger of entities under common control or as a business combination?
2. If the merger of Phoenix, Darwin, and Thunderbird is a business combination, which entity should be identified as the accounting acquirer?
Answer those 2 questions. Use uploaded file with the case.
Attachment:- Case.rar