Liu Limited purchased all the outstanding ordinary shares of Yang Plastics, Ltd. on December 31, 2017. Just
Question:
Liu used current assets of ¥1,218,000 to acquire the shares of Yang Plastics. The excess of this purchase price over the book value of Yang Plastics' net assets is determined to be attributable ¥84,000 to Yang Plastics' plant and equipment and the remainder to goodwill.
Instructions
(a) Prepare the entry for Liu Limited's acquisition of Yang Plastics, Ltd. shares.
(b) Prepare a consolidated worksheet at December 31, 2017.
(c) Prepare a consolidated statement of financial position at December 31, 2017.
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Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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