Question

Cogesco purchased 75% of the capital of Securenet for $250,000 on January 1, 2008. At this date the equity of Securenet was:
Share capital......... $100,000
Retained earnings...... 100,000
At this date, Securenet had not recorded any goodwill, and all identifiable assets and liabilities were recorded at fair value except for the following assets:
Required
(a) Prepare the acquisition analysis at the acquisition date. Assume that Cogesco uses the partial goodwill method.
(b) Prepare the consolidated financial statements as at December 31, 2013.


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  • CreatedJune 09, 2015
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