Question

On December 31, 20X6, Prager Limited acquired 100% of the outstanding voting shares of Sabre Limited for $ 2 million in cash; 75% of the cash was obtained by issuing a five- year note payable. The statements of financial position of Prager and Sabre and the fair values of Sabre’s identifiable assets and liabilities immediately before the acquisition transaction were as follows:


Required
Prepare the consolidated SFP for Prager Limited immediately following the acquisition of SabreLimited.


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  • CreatedMarch 13, 2015
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