This assignment solution addresses a corporate accounting problem focused on the acquisition of Davis Limited. It provides detailed calculations and journal entries related to the acquisition, including the analysis of net fair values of identifiable assets and liabilities. The solution covers the entries for acquisition, business combination valuation, and non-controlling interest. It also includes worksheet entries and a discussion of the impact of changing from partial to full goodwill methods. The assignment incorporates accounting standards and provides relevant explanations for each step, including the treatment of goodwill and the non-controlling interest. References to relevant sources, such as PWC publications, are also included to support the analysis and conclusions presented.