Prepare the acquisition analysis at july

Reference no: EM132672858

Additional Information

1. On 1 Jan 2017 White Ltd sold inventory to Black Ltd costing $30,000 for $50,000. Half of this inventory was sold to outside parties for $28,000 by 30/6/2017.

2. On 1 Jan 2016 White Ltd sold inventory costing $2000 to Black Ltd for $4000. Black Ltd treats the item as equipment and depreciates it at 5% per annum.

3. In the period ended 30 June 2015 Black Lid sold land to White Ltd for $40,000, which was $20,000 above cost. The land was still on hand at 30 June 2017.

4. At 1 July 2016 White Ltd held inventory that it had purchased from Black Ltd on 1 June 2016 at a profit of $6000.

5. Black Ltd accrues dividends from White Lid once they are declared.

6. Black Ltd has earned $500 in interest revenue in the 2017 financial year from White Ltd.

7. Black Ltd has earned $2000 in service revenue in the 2017 financial year from White Ltd.

8. Assume a tax rate of 30%.

Required:

Problem A. Prepare the acquisition analysis at 1 July 2013.

Reference no: EM132672858

Questions Cloud

Compute how much cash will increase : Compute how much cash will increase (decrease) during the month of March. Aelphi Company has budgeted activity for March to reflect net income $100,000.

Science-based public health solutions : Using science and technology in what way should a province or municipality must improve in order to fight against COVID-19

Explain to ahmed why strong leadership matters : Identify and explain a minimum of 5 different effective ways that can be used to motivate employees in an organization. Make recommendations to Ahmed

Prepare operating budgets as budgeted income statement : ABC Pty Ltd produces turbines used in production,Prepare Operating Budgets as Budgeted Income Statement for the quarter and Monthly Cash budget for the quarter.

Prepare the acquisition analysis at july : Prepare the acquisition analysis at 1 July 2013. On 1 Jan 2017 White Ltd sold inventory to Black Ltd costing $30,000 for $50,000.

Awareness of behavioral health disorders : In what ways did WWI and WWII affect awareness of behavioral health disorders among the federal government and the American public? With what results?

Make any journal entries to record the revenue arrangement : iDevice Sellers sells iDevice (a smartphone) combined, Make any journal entries to record the revenue arrangement for the iDevice bundle on March 1, 202

Make any journal entries to record the revenue arrangement : iDevice bundle sells an iDevice with 2-years of Internet, Make any journal entries to record the revenue arrangement for the iDevice bundle on March 1, 2020.

Explain the concept and importance of judicial review : In 500 to 750 words, explain the concept and importance of judicial review in the issuance of a search warrant and why you believe or do not believe.

User Account

All Pages