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Corporate Accounting and Reporting

   

Added on  2022-11-13

5 Pages812 Words459 Views
Corporate accounting and reporting

Accounting
1. Acquisition analysis
Computation of Assets
taken over 1.7.17 30.6.18
Share Capital 54,000.00 54,000.00
Retained Earnings 36,000.00 44,300.00
Asset Revaluation Reserve 18,000.00 20,000.00
Inventory revaluation 1,400.00 140.00
Machinery revaluation 1,050.00 840.00
Total 1,10,450.00 1,19,280.00
Post Acquisition Profit
8,830.
00
Payment of consideration 1,10,000.00 1,10,000.00
-
Goodwill on Acquisition
-
450.00
Income Statement
Ethan Ltd Darren ltd
PBT 1,20,000.00 12,500.00
Tax Expense
-
56,000.00 -4,200.00
Profit 64,000.00 8,300.00
Retained Earning 80,000.00 36,000.00
Transferred to General
reserve - -3,000.00
Closing Retained Earning 1,44,000.00 41,300.00
Adjustments
Subsidiary Share 8,830.00
(119280-
110450)
Total 1,52,830.00
2

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