User Account

All Pages

Prepare journal entries to record the acquisition

Assignment Help Accounting Basics
Reference no: EM132768154

Question: X Ltd, a listed company, acquired land from Y Ltd by issuing 100000 new shares in the company to Y Ltd. X's shares were trading at $4.6 per share at the date of acquisition. $4000 legal costs were incurred for the issues of these new shares. X Ltd also agreed to transfer 30 000 of the shares it holds in Z Ltd to Y Ltd. Z's shares were trading at $4.5 per share at the date of acquisition. These shares originally costed X Ltd $5 per share.

Required : Calculate the cost of acquisition of the land by X Ltd and prepare journal entries to record the acquisition.

Reference no: EM132768154

Questions Cloud

Compute the ending inventory by given method : Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final.
What is the adjusted cash in bank balance : The book balance of a cash in bank account of Stands Corp. is P1,090,000. As of this date, outstanding checks totaled P60,000 while deposits in transit amount.
What was diluted earnings per share : For 2010, the Seeger Corporation reports net income of $600,000. The company has 300,000 shares of common stock outstanding throughout the current year.
What was the estimated cost of the ending inventory : If the markup on cost was 1/4, what was the Markup on Retail? Using the gross profit method, what was the estimated cost of the ending inventory PRIOR to the.
Prepare journal entries to record the acquisition : X Ltd, a listed company, acquired land from Y Ltd by issuing 100000 new shares in the company to Y Ltd. X's shares were trading at $4.6 per share at the date.
Record the depreciation using given data : Sold used shop equipment (metal lathe) for $320.00. The equipment was purchased at a total cost of $2,200.00 early in 2009. Using units of production.
CLWM4000 Business and Corporations Law Assignment : CLWM4000 Business and Corporations Law Assignment Help and Solution, Kaplan Business School - Assessment Writing Service
How much should it report as a foreign exchange gain : Able Company had a receivable that is payable in the customer's local currency (a foreign currency). On December 31, 2020 Able correctly included this.
Identify issues surrounding the potential engagement : You are an audit manager of C & A Company, a CPA firm in Hong Kong SAR. Recently a partner of your firm, Mr. Calvin Cheung gave you an instruction.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd