9:41 Task 1 ---- 30 Marks_fdbbd761... Question2: Assume that on January 1, 2013, Nizwa Company acquired 80% (8,000 shares) of the stock of Shinas Company for R.O 37,000. What journal entry would Nizwa Company make to record the shares of Shinas Company acquired? Assume the entire difference is attributable to land with a current value higher than historical cost. The balance sheets of both companies immediately after the acquisition of shares is as follows: RO. RO Lihts 30.000 100,000 20,000 Oh C ap 50.000 Nering Tutelah d ity RO 0. 00 RO 6.00 Computation and Allocation of Difference between Implied and Book Values She The work paper to consolidate the balance sheets for Nirwa and Shinas on Jan. 1. 2017, date of acquisition is presented below: Ceny PHM 5:47