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Corporate Accounting and Reporting

   

Added on  2022-11-07

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Running Head: CORPORATE ACCOUNTING AND REPORTING
CORPORATE ACCOUNTING AND REPORTING
Corporate Accounting and Reporting_1

Running Head: CORPORATE ACCOUNTING AND REPORTING
Table of Contents
Acquisition Analysis.................................................................................................... 3
Pre-Acquisition analysis.............................................................................................. 3
NCI entry.................................................................................................................... 4
Business Combination entries.................................................................................... 4
Question 5.................................................................................................................. 6
References................................................................................................................. 7
Corporate Accounting and Reporting_2

Running Head: CORPORATE ACCOUNTING AND REPORTING
Acquisition Analysis
Acquisition Analysis
At 1st June 2019
Net fair value of the identifiable
assets and liabilities of Davis Limited
Equity $ 807,000.00
General Reserve $ 346,000.00
Asset Revaluation Surplus $ 277,000.00
$ 1,430,000.00
Inventories $ 193,900.00
Land $ 387,800.00
Furniture $ 452,200.00
Net identifiable assets $ 2,463,900.00
Consideration Transferred $ 2,306,000.00
$ 246,390.00
Goodwill $ 88,490.00
Pre-Acquisition analysis
Pre-Acquisition
Entries
1st July
2019
General Reserve
(1/7/19)
D
r.
$
1,241,910.0
0
Share Capital
D
r.
$
726,300.00
Asset Revaluation surplus
D
r.
$
249,300.00
Capital reserve
D
r.
$
176,980.00
To gain on bargain purchase
$
88,490.00
To shares in Davis Limited
$
2,306,000.0
0
Corporate Accounting and Reporting_3

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