Acquisition Analysis, Consolidation Worksheet, and Financial Reporting
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Homework Assignment
AI Summary
This assignment solution provides a detailed analysis of an acquisition scenario, including the calculation of goodwill, fair valuation adjustments, and pre-acquisition entries. The solution presents the acquisition analysis as of July 1, 2017, followed by pre-acquisition entries and consolidation worksheet entries as of June 30, 2019. The solution includes journal entries to record the acquisition of Y Ltd., transfer from business combination valuation reserve, and transfer from general reserve. Furthermore, the solution provides a comprehensive consolidated worksheet for the period ending June 30, 2019, which includes adjustments for revenues, expenses, and gains/losses. The worksheet also presents the consolidated financial statements, including the statement of profit or loss and other comprehensive income, statement of changes in equity, and the statement of financial position. The solution also addresses the impact of depreciation, sale of plant, and settlement of a court case on the financial statements.
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