Question: Please help me to solve this exercise The Shark ltd acquired all the issued capital of Seal ltd for a cash payment of $300 on
Please help me to solve this exercise
The Shark ltd acquired all the issued capital of Seal ltd for a cash payment of $300 on June 30, 2018. Subidiary Plant assets have a book value of a $280 but have a fair value of $290. Fill the followng table with the missing items. Determind the goodwill arsing on consolidation (demonstration of the computation required)
Statements of Financial Position Shark LtdSeal Ltd Elimination Entries Group Dr Cr Non-current assets Plant Land Investment in Seal Ltd. Current assets Cash Accounts receivable Goodwill Total Assets 400 280 100 20 75 25 880 330 Shareholders' equity Share capital Retained earnings Non-current liabilities Loans Current liabilities Accounts payable 500 100 100 140 150 75 15 130 880 330 Total Liabilities and Equity
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