Illu.1 : A Ltd. acquired B Ltd. Business with the following values. Rs. Fixed Asets 3,00,000 1,00,000 50,000 1,00,000 Current assets Debentures Current Liabilities Calculate purchase consideration.
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![Illu.1 : A Ltd. acquired B Ltd. Business with the following values.
Rs.
Fixed Asets
3,00,000
1,00,000
50,000
Current assets
Debentures
Current Liabilities
1,00,000
Calculate purchase consideration.
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- If the fixed assets 9 250 ID ,-3 Current assets 11 600 ID , short term liabilities 2 04O ID , Long term liabilities 5 40O ID , the capital in 31/12 (.. .) are 13 410 ID. 14 310 ID. O 12 210 ID. OIn business combination, the fair value of combinee bonds payable was $ 120,000 and the carrying amount of bonds payable was $ 100,000. The journal entry to allocate liquidated company to identifiable assets and liabilities with remainder to goodwill includes: а. Credit to premium on bonds payable $ 20,000. b. Debit to discount on bonds payable $ 20,000. C. Credit to bonds payable $ 120,000. d. Debit to premium on bonds payable $ 20,000Noncurrent Asset Held for Sale The statement of financial position of an entity on December 31, 20x1 shows the following information: Cash and cash equivalents 600,000 Trade and other receivables 1,200,000 Inventories 3,600,000 Investment property (Cost model) 1,400,000 Investment in associate 800,000 Property, plant and equipment 5,000,000 Total assets 12,600,000 Trade and other payables 4,900,000 Current tax payable 1,800,000 Deferred tax liability 700,000 Ordinary share capital 2,000,000 Retained earnings 2,700,000 Other components of equity 500,000 Total liabilities & equity 12,600,000 On December 31, 20x1, the entity commits to a plan to sell the investment property. All conditions of PFRS 5 are met. The fair value of the investment property on this date is P1,600,000 while the estimate of costs to sell is P50,000. Explain why is it considered as a noncurrent asset held for sale. And what should be the journal entry
- Determine the missing amount from each of the separate situations given below. Assets Liabilities Equity 157,000 %3D 26,000 100,000 = 59,000 +. 204.000 %3D 62,000perience p....pptm ^ Type here to search w X # 3 E Coronado Company's condensed financial statements provide the following information. C Cash Accounts receivable (net) Short-term investments Inventory Prepaid expenses Total current assets Property, plant, and equipment (net) Total assets Current liabilities ACC341-2022-Ho....xlsx $ 4 Bonds payable R F % 5 O CORONADO COMPANY BALANCE SHEET T At O+ 6 V B ▶ music 2.jpeg n H & 7 Dec. 31, 2020 $52,100 197,700 80,800 442,700 3,000 $776,300 849,900 $1,626,200 237,700 401,800 U 20 8 J Dec. 31, 2019 $60,200 O 80,800 39,600 N M 360,200 $547,700 849,900 $1,397,600 6,900 155,700 ( 401,800 9 W K F11 ) O 0 888 P Home End C Rair InseGenatron Manufacturing Corporatio Balancs Sh出出t 2017 216 ASSETS Cach $41,752 $51,878 Accts. recelvable 260, 499 200,543 Inventory 450,460 Total current assets B02, 735 702,181 Fixed asset, nct 300, 100 $1,202, 735 $1,002, 381 LIABILITIES AND EQUITY Accts. paysble $172,648 $131,068 Bank loan 91,013 91,013 Accrusis 70,000 50, 000 Total current Isbllties 333,661 272.081 Long-term deot, 12% 398,220 290,301 Common stock, $10 par 300,000 Capital surplus 44,555 44,555 Retained crninga 126,299 95,444 Total liabiliiti &oulty 51.202,735 51,002,381 2017 2016 Net sales Cost of peocS So0 388,411 Gross profit E72.274 Experses: General ancasm nistrative 50.000 Market ng cod ost rer cs 44.5E5 Ceprec at cn v (a) Calculate Genatron's dollar amount of net working capital in each year. Interest E5.024 Earnings tetsre taxes 267.055 227.266 2017 2016 Incometaxes 75 145 Net working capital et ncome %24
- Company: Revenues Operating expenses Gain from disposal of discontinued component Restructuring costs Interest expense Unrealized gain on AFS Debt Investment (OCI) Gain on sale of operating assets A. $240,000. B. $88,000 C. $46,400 D. $72,000 E. $80,000 nglish (United States) Text Predictions On Debits Accessibility: Investigate 420,000 100,000 20,000 Income tax expense has not yet been accrued. The company's income tax rate is 20% on all items. What amount should be reported in the company's Year 6 income statement as income from continuing operations? I Credits $600.000 200,000 10,000 30,000 FocusCOTB MC Qu. 16-76 (Algo) Assume a company provided the... Assume a company provided the following information: Net operating income Net income before tax Net income Gross margin The times interest earned ratio is closest to: $ 184,000 $ 170,000 $ 119,000 $ 680,000selected intoomation The Following is Foom Meney Company's Cooperative balance Sheets At decombeo 31 2020 Rs.155,000 2019 es 260,000 fuaniture Accumulate d depseceation (74,400) 421y 400) The income state ment Yeports deptecti expense For the yegsnituse costng Jusniture costing seld Fos its the 170om the sale of Rs 36 000 Rs 105,000 book cash of Also was Value, furniture. Yee cuied Conpute
- Q1. Range Ltd acquired a business for the following consideration:– CashThe business being acquired had the following assets and liabilities as reported in the balance sheet (there were no contingent liabilities):– Land—Carrying amount Fair value$50000$90 000$150 000 – Shares in Range Ltd—Fair value$60 000 (Hint: it is the fair value of the consideration that is relevant)Liabilities– Bank loan– Creditors Assets– Plant and equipment– Motor vehicle$50 000$30 000$150 000 $30 000– (the plant and equipment and motor vehicle have fair value of $170 000and $30 000, respectively) HOW MUCH GOODWILL WAS ACQUIRED?Q2. On 1 January 2018, Bad Ltd acquired all the assets and liabilities of Wolf Ltd. Wolf Ltd has a number of operating divisions, including one whose major industry is the manufacture of toy trains, particularly models of trains of historical significance. The toy trains division is regarded as a CGU. In paying $2 million for the net assets of Wolf Ltd, Bad Ltd calculated that it had…On January 1, 2021, Casey Corporation exchanged $3,209,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: $ 3,209,000 Fair value of Kennedy (consideration transferred) Carrying amount acquired 2,600,000 609,000 Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) Accounts Cash Accounts receivable Inventory Investment in Kennedy Buildings (net) Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses). Licensing agreements Goodwill Total assets Accounts payable Long-term debt Common stock Additional paid-in capital Retained earnings Total liabilities and equities $…Cash Short-term investments Current receivables Inventory Prepaid expenses Total current assets Current liabilities Camaro $ 2,400 0 260 2,175 300 $ 5,135 $ 2,220 GTO $ 230 0 510 2,020 600 $ 3,360 $ 1,320 Torino $ 1,300 600 500 3,050 900 $ 6,350 $ 3,550 a. Compute the acid-test ratio for each of the separate cases above. b. Which company is in the best position to meet short-term obligations?
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