Topic 5 Workshop Questions Last saved by user Compatibility Mode Saved to this PC Draw Design Lay...
Exercise 29.4 Undervalued assets, full and partial goodwill method On 1 July 2022, Jane Ltd acquired 75% of the issued shares of Austen Ltd for $360 000. At this date, the equity of Austen Ltd consisted of share capital of $200 000 and retained earnings of $130 000. All the identifiable assets and liabilities of Austen Ltd were recorded at amounts equal to fair value except for the following. Austen Ltd also had an internally generated patent not recognised at...
Consolidated financial statements, rationale for adjustments Lead beaters Ltd acquired all the issued shares (cum div.) of Possum Ltd on 1 July 2014. At this date the shareholders’ equity of Possum Ltd was: Share capital – 100 000 shares General reserve Asset revaluation surplus Retained earnings $ 450 000 45 000 45 000 15 000 At 1 July 2014, the accounting records of Possum Ltd contained a dividend payable of $15 000. This dividend was paid in...
Ethan Ltd acquired all the issued shares (ex div.) of Darren Ltd on l July 2017 for $110 000. At this date Darren Ltd recorded a dividend payable of $10 000 and equity of: Share capital Retained earnings Asset revaluation surplus $54000 36000 18000 All the identifiable assets and liabilities of Darren Ltd were recorded at amounts equal to their fair values at acquisition date except for: Carrying amount Fair value $14000 92500 $16000 Inventories Machinery (cost $100 000) 94000...
Belinda Blue JH Organic 221-02 TK-Home Exam-3 Spg 2019 B) - Compatibility Mode Saved to this PC - Insert Draw Design LayoutReferences Mailings Review View Help lell me what you want to do share- Find Replace Select Editing File Home Cut Copy ●Format Painter B 1 u .aex, x, A2A. ←.a. td-Emphasis 률 Heading 1 Subtitle Title ๆ No Spac.. Subtle Erm. 1 Normal Strong > Styles 7)- Provide i.e., draw) the product (s) and detailed mechanisms for the elimination...
On 1 July 2015, Fluffy Ltd acquired all the issued shares of Glider Ltd. Fluffy Ltd paid $30 000 in cash and 20 000 shares in Fluffy Ltd valued at $3 per share. At this date, the equity of Glider Ltd consisted of $66 000 share capital and $6000 retained earnings. At 1 July 2015, all the identifiable assets and liabilities of Glider Ltd were recorded at amounts equal to their fair values except for: Additional information (a) Fluffy Ltd...
Ethan Ltd acquired all the issued shares ( div.) of Darren Ltd on 1 July 2018 for $110 000. At this date Darren Ltd recorded a dividend payable of $10 000 and equity of: Share capital $54 000 Retained earnings 36 000 Asset revaluation surplus 18 000 All the identifiable assets and liabilities of Darren Ltd were recorded at amounts equal to their fair values at acquisition date except for: Carrying amount Fair value Inventories 14 000 16 000 Machinery...
Sky Ltd acquired all the issued shares (Ex div.) of Nu Ltd on 1 July 2018 for $100 000. At this date Nu Ltd recorded a dividend payable of $10 000 and equity of: | Share capital Retained earnings | Asset revaluation surplus $54 000 36 000 18 000 All the identifiable assets and liabilities of Nu Ltd were recorded at amounts equal to their fair values at acquisition date except for: Inventories Machinery (cost $100 000) Carrying amount 16...
Jimmy Ltd acquired all the issued shares (cum-div.) of Nu Ltd on 1 July 2019 for $110 000. At this date Nu Ltd recorded a dividend payable of $10 000 and equity of: Share capital $54 000 Retained earnings 36 000 Asset revaluation surplus 18 000 All the identifiable assets and liabilities of Nu Ltd were recorded at amounts equal to their fair values at acquisition date except for: Carrying amount Fair value Inventories 14 000 16 000 Machinery (cost...
QUESTION 4 (complex groups) (20) The following are the abridged trial balances of A Limited, B Limited and C Limited at 31 December 2019: A B C $ $ $ CREDITS Share capital: -100 000 ordinary shares 100 000 -80 000 ordinary shares 80 000 -30 000 ordinary shares 60 000 Retained earnings 200 000 150 000 110 000 Profit for the period 345 000 220 000 95 000 645 000...
Required: Prepare the consolidated financial statements of Griffin Ltd at 30 June 2019. Griffin Ltd is a major Australian company operating in the manufacture of women’s clothing. One of its major competitors is Frank Ltd whose business was established by a French family over 30 years ago. It has won numerous awards for its designs and has established a number of brands that have been successful, especially with the teenage market. In order to expand its business as well as...