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CORPORATE ACCOUNTING AND REPORTING

   

Added on  2022-08-20

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Running Head: CORPORATE ACCOUNTING AND REPORTING
CORPORATE ACCOUNTING AND REPORTING

Running Head: CORPORATE ACCOUNTING AND REPORTING
Table of Contents
Step 1: Acquisition Analysis............................................................................................... 3
Step 2: Pre-Acquisition analysis........................................................................................... 3
Step 3: NCI entry............................................................................................................. 4
Step 4: Business Combination entries.................................................................................... 5
Step 5: Partial Goodwill method to full goodwill Method...........................................................6
References..................................................................................................................... 8

Running Head: CORPORATE ACCOUNTING AND REPORTING
Step 1: Acquisition Analysis
Acquisition Analysis
At 1st July 2019
Net fair value of the
identifiable
Fair Value- Carrying
Value
Fair Value-
Carrying Value
assets and liabilities of
Davis Limited
Share Capital
$
516,000.00
General Reserve
$
221,000.00
Asset Revaluation
Surplus
$
171,000.00
$
908,000.00
Inventories
$
123,900.00
$
177,000.00 (398000-221000)
Land
$
247,800.00
$
354,000.00 (796000-442000)
Fittings
$
1,085.00
$
1,550.00 (23100-21550)
Machinery
$
268,100.00
$
383,000.00 (929000-546000)
Net identifiable assets
$
1,548,885.00
Consideration
Transferred
$
1,474,000.00
NCI considered
$
139,399.65
Goodwill
$
64,514.65
Step 2: Pre-Acquisition analysis
Step 2
Pre-Acquisition
Entries
1st July General Reserve Dr $

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