Please solve the below Financial Statement Analysis & Reporting problem in step by step. Pre-acquislon Balance Sheets

Please solve the below Financial Statement Analysis & Reporting problem in step by step. 

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Pre-acquislon Balance Sheets ASSETS Taka In Million Panther Santoor 2860 525 Plant Assets Current Assets Accounts Receivable 345 82 Inventories 240 68 Cash and Marketable Securities 482 74 Other Current Assets 203 14 Total Current Assets 1270 238 TOTAL ASSETS 4130 763 LIABILITIES AND EQUITY Current Liabilities Accounts Payable 284 76 Other Payables Short Term Loan 103 25 160 78 Other Current Liabilities 87 42 Total Current Liabilities 634 221 Lang Term Loans 310 162 Paid up Capital (Taka 10 par) 450 160 Retained Earning 2736 220 Shareholders' Equity 3186 380 TOTAL LIABILITIES AND EQUITY 4130 763 Panther Limited acquired 80 percent shares of Santoor at a cost of Taka 350 million. Panther's Accounts receivables include a receivable from Santoor amounting Taka 15 mil. The market price of Santoor's 'share is Taka 25. Required Value non-controlling interest at market price. Prepare the journal entry in the books of Panther Limited to acquire Santoor. Prepare a consolidated balance sheet of Santoor after acquisition. Pre-acquislon Balance Sheets ASSETS Taka In Million Panther Santoor 2860 525 Plant Assets Current Assets Accounts Receivable 345 82 Inventories 240 68 Cash and Marketable Securities 482 74 Other Current Assets 203 14 Total Current Assets 1270 238 TOTAL ASSETS 4130 763 LIABILITIES AND EQUITY Current Liabilities Accounts Payable 284 76 Other Payables Short Term Loan 103 25 160 78 Other Current Liabilities 87 42 Total Current Liabilities 634 221 Lang Term Loans 310 162 Paid up Capital (Taka 10 par) 450 160 Retained Earning 2736 220 Shareholders' Equity 3186 380 TOTAL LIABILITIES AND EQUITY 4130 763 Panther Limited acquired 80 percent shares of Santoor at a cost of Taka 350 million. Panther's Accounts receivables include a receivable from Santoor amounting Taka 15 mil. The market price of Santoor's 'share is Taka 25. Required Value non-controlling interest at market price. Prepare the journal entry in the books of Panther Limited to acquire Santoor. Prepare a consolidated balance sheet of Santoor after acquisition.

Answer rating: 100% (QA)

1 Value noncontrolling interest at market price Santoors total number of shares Paidup capital Par v... View the full answer