Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - CONSOLIDATION WORKSHEET ENTRIES - On 1 July 2019, ABC Ltd acquired all the issued shares of XYZ Ltd for $268,000. At this date, the equity of XYZ Ltd consisted of:
Share capital $150,000
General reserve 30,000
Retained earnings 50,000
All the identifiable assets and liabilities of XYZ Ltd were recorded at amounts equal to their fair values except for:
Carrying amount
Fair value
Plant (cost 300,000)
250,000
280,000
Inventory
30,000
40,000
Plant can be used for another 5 years since the acquisition date. Inventory are sold by 30/6/2020. The tax rate is 30%.
Required -
PART A: Prepare an acquisition analysis at 1 July 2019 by ABC Ltd.
PART B: Prepare consolidation worksheet entries on 30 June 2020.
The branch ending inventory acquired from the home office is P15,600 at billed price. Calculate the overstatement of the branch cost of sales
The 2012 accounting records of Pape Transport reveal these transactions and events.
more co. is a merchandising business. the account balances for more co. as of november 30 2008 unless otherwise
Some accountants argue that the receiving department should be eliminated. Discuss the objective of eliminating the receiving function.
Price Co. reported net income of $12,000 for the current year. What is the comprehensive income for the current year?
1. on january 1 2013 legion company sold 270000 of 8 ten-year bonds. interest is payable semiannually on june 30 and
Most effective software for building searchable digital bibliographic database?- the technical requirements for such conversion from printed material to searchable digital format;
roo corporation budgeted sales for the next fiscal year are 7650000. roo estimates the following marketing and
nut house manufactures and sells jars of peanut butter. all of the companys output passes through five production
Determine the ADJUSTMENT to Sparky's Income from Continuing Operations (ICO) for this item. Sparky has a corporate tax rate of 30%. If you need to increase ICO, enter your answer as a positive number; for instance: 3000
What is the amount of equity on December 31, 2010? What is the amount of liabilities on December 31, 2011
Determine the price of the bonds at January 1, 2009, and prepare the journal entry to record their issuance by Patey on January 1, 2009
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd