Question

The balance sheets of Par Ltd. and Sub Ltd. on December 31, Year 1, are as follows:
The fair values of the identifiable net assets of Sub on December 31, Year 1, are as follows:
Assume that the following took place on January 1, Year 2.
Case 1. Par paid $95,000 to acquire all of the common shares of Sub.
Case 2. Par paid $76,000 to acquire 80% of the common shares of Sub.
Case 3. Par paid $80,000 to acquire all of the common shares of Sub.
Case 4. Par paid $70,000 to acquire all of the common shares of Sub.
Case 5. Par paid $63,000 to acquire 90% of the common shares of Sub.
Required:
For each of the five cases, prepare a consolidated balance sheet as at January 1, Year 2.


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  • CreatedJune 08, 2015
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