On 1 July 2022, ABC Ltd acquired all the issued shares of XYZ Ltd for $288,000....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On 1 July 2022, ABC Ltd acquired all the issued shares of XYZ Ltd for $288,000. At this date, the equity of XYZ Ltd consisted of: Share capital General reserve Retained earnings Plant (cost $200 000) Land All the identifiable assets and liabilities of XYZ Ltd were recorded at amounts equal to their fair values except for: Carrying amount $185,000 Inventory The tax rate is 30%. Required Prepare an acquisition analysis at 1 July 2022 by ABC Ltd. 100,000 $ 200,000 10,000 10,000 40,000 Fair value $200,000 120,000 15,000 On 1 July 2022, ABC Ltd acquired all the issued shares of XYZ Ltd for $288,000. At this date, the equity of XYZ Ltd consisted of: Share capital General reserve Retained earnings Plant (cost $200 000) Land All the identifiable assets and liabilities of XYZ Ltd were recorded at amounts equal to their fair values except for: Carrying amount $185,000 Inventory The tax rate is 30%. Required Prepare an acquisition analysis at 1 July 2022 by ABC Ltd. 100,000 $ 200,000 10,000 10,000 40,000 Fair value $200,000 120,000 15,000
Expert Answer:
Answer rating: 100% (QA)
Certainly heres the acquisition analysis for ABC Ltds acquisition of XYZ Ltd on 1 July 2022 1 Calcul... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
Gorimapa Manufacturing Company produces desktop calendars. The following are the budgeted data for 3,000 units of Joystick produced in September 2020: Required During the period 2,800 were produced...
-
A check written by the company for $ 272 is incorrectly recorded by a company as $ 227 . On the bank reconciliation, the $ 45 error should be deducted from the balance per books. added to the balance...
-
For, k, I3 = -1/2, B=0, For, =" , I3; = -1/2, B = +1 , For, A, I3, = 0, B = +1 Then, the strangeness number of particle
-
Desmond died on 18 July 2017, having made no transfers in the previous seven years. He left his entire estate to his wife Emily, including the family home valued at 420,000. Emily died on 9 May 2020,...
-
How could you use a malonic ester synthesis to prepare the following compounds? Show allsteps. (b) CH3CH2CH2CHC CH (c) CHCH2C CHCHCH-CH,C C
-
A harpsichord string of length 1.50 m and linear mass density 25.0 mg/m vibrates at a (fundamental) frequency of 450.0 Hz. (a) What is the speed of the transverse string waves? (b) What is the...
-
An article in the Wall Street Journal in late 2022 noted that FedEx Corp.s warning of a sharp drop in package deliveries set off fresh worries among investors about the outlook for the global...
-
Howie Long has just learned he has won a $500,000 prize in the lottery. The lottery has given him two options for receiving the payments: (1) If Howie takes all the money today, the state and federal...
-
(a) Discuss four benefits that would accrue to a foreign investor investing in the international bonds and (b) Highlight four conditions that must be met by a subsidiary before it could be considered...
-
The Taos Museum of Southwestern Arts and Crafts (TMSAC) presents rotating exhibits of the works of artists and artisans from the Southwestern United States. Historically, the museum has derived its...
-
According to the 23 Jan 2013 Wall Street Journal Americans are sending one third less mail than they did 10 years ago, What is the explanation in terms of the theory of demand supply price and output...
-
Use the following cash receipts journal to record the preceding transactions. Cash Receipts Journal Page 3 Sales Discounts Other Cost of Goods Sold DR Forfeited CR Accounts CR Merchandise Inventory...
-
Which inventory costing method assigns to ending merchandise inventory the newest the most recentcosts incurred during the period? a. First-in, first-out (FIFO) b. Weighted-average c. Specific...
-
Espinoza Air Conditioning & Heating had the following select financial data as of June 30, 2024. What is Espinozas cash ratio? a. 0.34 b. 0.65 c. 0.78 d. 1.54 Cash Cash Equivalents Accounts...
-
The following transactions of Jasmine Reef occurred during 2024: Requirements 1. Journalize required transactions, if any, in Reef s general journal. Explanations are not required. 2. What is the...
-
The statement of cash flows reports three types of cash flow activities. Explain the purpose of each of the following activities or sections in the statement of cash flows and how each of them...
-
Based on the strategic group map in Concepts # Connections 3.1,which pizza chains are Hungry Howie's closest competitors? With which strategic group does California Pizza Kitchencompete the least...
-
Selected condensed data taken from a recent statement of financial position of Morino Ltd. are as follows. MORINO LTD. Statement of Financial Position (partial) Other current assets...
-
P4-2 Summer Corp. owns all the shares of Keira Ltd. The shares were acquired on July 1, 2011, by Summer at a cost of $60,000. At acquisition date, the capital of Keira consisted of 44,000 common...
-
In making consolidated nancial statement adjustments, sometimes tax-effect adjustments are made. Why?
-
Plaxton Inc. is a company located in Canada and uses the Canadian dollar as the functional currency. Plaxton began operations January 1, 2012. Its shareholders are American and would like the...
-
Tumor-suppressor genes promote cancer when a. they are overexpressed. b. they are expressed in the wrong cell type. c. their function is inactivated. d. they are expressed at the wrong stage of...
-
Explain how DNA microarrays are used in molecular profiling of cancerous tumors.
-
Which of the following types of epigenetic changes may promote cancer? a. DNA methylation b. Covalent modification of histones c. Chromatin remodeling d. All of the above may promote cancer.
Study smarter with the SolutionInn App