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Consolidation of Griffin and Frank Ltd

   

Added on  2022-12-20

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CONSOLIDATION 1
CONSOLIDATION
Consolidation of Griffin and Frank Ltd_1

CONSOLIDATION 2
As at July, 2016:
Net fair value of identifiable assets
and liabilities of Frank Ltd
Equity:
Share
capital
2,0
0,000.00
General
reserve
2
0,000.00
Retained
earnings
5
0,000.00
Add: revaluations Plant 4,200.00 1,800.00
Inventory 5,600.00 2,400.00
Land
1
4,000.00 6,000.00
Patents 8,400.00 3,600.00
Less: damages payable 7,000.00
2,9
5,200.00
Consideration transferred
3,2
0,000.00
Goodwill
2
4,800.00
Consolidation of Griffin and Frank Ltd_2

CONSOLIDATION 3
Pre-acquisition entries:
Share capital
2,00,000.0
0
General reserve
20,000.0
0
Retained earnings
50,000.0
0
Business
combination
valuation reserve
Shares in Frank
Ltd
3,20,000.0
0
Dividend payable
10,000.0
0
Dividend
receivable
10,000.0
0
Retained earnings
23,800.0
0
Share capital
2,00,000.0
Consolidation of Griffin and Frank Ltd_3

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