Corporate Accounting

Running head: CORPORATE ACCOUNTING
Corporate Accounting
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1CORPORATE ACCOUNTING
Table of Contents
Acquisition Analysis:.......................................................................................................................2
Journal Entries:................................................................................................................................3
Consolidated Worksheet:.................................................................................................................4
Prepare the consolidated financial statements of Griffin Ltd at 30 June 2019:...............................6
Bibliography:...................................................................................................................................9

2CORPORATE ACCOUNTING
Acquisition Analysis:
Land Value Equity Value
Fair value 2,10,000 Share Capital 2,00,000
Carrying amount 1,90,000 General Reserve 20,000
Land 20,000 Retained earnings 50,000
Equity 2,70,000
Plant Value
Fair value 1,86,000 Inventory Value
Carrying amount 1,80,000 Fair value 28,000
Plant 6,000 Carrying amount 20,000
Inventory 8,000
Guarantee
liability Value
Guarantee liability 10,000 Inventory Value
Fair value 28,000
Brands Value Carrying amount 20,000
Brands 12,000 Inventory 8,000
Particulars Value
Equity 2,70,000
Inventory 5,600
Land 14,000
Plant 4,200
Guarantee liability -7,000
Brands 8,400
Net Fair value 2,95,200
Particulars Value
Acquisition capital 3,30,000
Dividend received 10,000
Consideration transferred 3,20,000
Particulars Value
Consideration transferred 3,20,000
Net Fair value 2,95,200
Goodwill 24,800