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!
Case: Karlin Ltd acquired all the assets and assumed all the liabilities of Jim Ltd on 1 July 2022. In exchange, Karlin Ltd agreed to issue 3 Jim Ltd shares for every Jim Ltd share held and pay cash of $4.2 per share to the former shareholders of Jim Ltd for each share held in Jim Ltd. Karlin Ltd and Jim Ltd shares were assessed to have a fair value of $8.5 per share and $6.5 per share, respectively.
On 1 July 2022, the financial position of Jim Ltd was as follows:
Carrying amount
Fair value
Assets
Cash
120,000
Accounts receivable
500,000
Plant
1,365,000
1,040,000
Accumulated depreciation - plant
(390,000)
-
Equipment
485,000
452,500
Accumulated depreciation -Equipment
(65,000)
Land
720,000
865,000
Vehicles
520,000
396,500
Accumulated depreciation -vehicles
(130,000)
Total assets
3135000
Liabilities
Accounts payable
55,000
Bank Loans
260,000
Total liabilities
315,000
Equity
Share capital - 100,000 shares
1,625,000
Retained earnings
1,300,000
Total equity
2,925,000
Total liabilities and equity
3,250,000
Additional information:
Required:
Prepare the journal entries in the records of Karlin Ltd in relation to its acquisition of Jim Ltd on 1 July 2022.
Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.
Prepare the journal entries to record the bond issue and interest expense.
Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.
Prepare Revenues budget and Production budget in units
Effect of exchange rate changes on cash and cash
You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.
A cost-benefit analysis of electronic medical records in primary care
Theory of Interest- Non-annual interest rates and annuities
How is job costing in service organizations different from job costing in manufacturing environments?
Accounting for bad debt expense
Accounting and Partnership problems
Development of relevant cash flows - Cost estimating and financial analysis
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