Solution-Prepare the acquisition analysis and bcvr entries

Prepare the acquisition analysis and bcvr entries of sky ltd

Reference no: EM132471542

Question 1: Prepare the acquisition analysis and BCVR entries of Sky Ltd at 1 July 2018

Question 2: Prepare the consolidation worksheet entries at 30 June 2019.

Question 3: Complete the consolidation worksheet at 30 June 2019. (Suggested template below).

	Sky Ltd	Nu Ltd	Adjustments		Group
	Sky Ltd	Nu Ltd	Dr	Cr	Group
Profit before tax	120 000	12 500
Income tax expense	(56 000)	(4 200)
Profit	64 000	8 300
Retained earnings (1/7/18)	80 000	36 000
Transfer from BCVR	-	-
	144 000	44 300
Transfer to general reserve	(0)	(3 000)
Retained earnings (3016/19)	144 000	41 300
Share capital	360 000	54 000
BCVR	-	-
General reserve	10 000	3 000
	514 000	98 300
Asset revaluation surplus (117/18)	13 500	18 000
Gains	5 000	2 000
Asset revaluation surplus (30/6/19)	18 500	20 000
	532 500	118 300
Liabilities	42 500	13 000
	575 000	131 300


Land	160 000	20 000
Plant & machinery	360 000	125 600
Accum. depreciation	(110 000)	(33 000)
Inventory	55 000	18 700
Shares in Nu Ltd	110 000	0
	575 000	131 300

Reference no: EM132471542

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Prepare the acquisition analysis and bcvr entries of sky ltd

Reference no: EM132471542

Reference no: EM132471542

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