Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 27, 2024

Can someone please explain the journal entry line by line below? and explain how to demonstrate the effect on the consolidated financial statements using the

Can someone please explain the journal entry line by line below? and explain how to demonstrate the effect on the consolidated financial statements using the consolidation worksheet.

A Ltd has acquired all the issued shares of B Ltd for $150. The balance sheets of both companies immediately after acquisition are as follows:

A LtdB Ltd

Share capital$200Share capital$100

Reserves100Reserves50

300150

Shares in B Ltd150--

Cash150Cash150

300150

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Social Theory An Introduction

Authors: Lisa Jack

1st Edition

1138100714, 9781138100718

More Books

Students also viewed these Accounting questions

Question

★★★★★

The Nestl Group disclosed the following analysis of its trade receivables at December 31, 2012 (amounts in millions of Swiss francs, CHF): Aged Trade Receivables Amount Not past due...

Answered: 1 week ago

Question

★★★★★

One sine wave has a positive peak at 75 and another has a positive peak at 100. How much is each sine wave shifted in phase from the 0 reference? What is the phase angle between them?

Answered: 1 week ago

Question

★★★★★

discuss the causal nature of the relation between job satisfaction and job performance;

Answered: 1 week ago

Question

★★★★★

Enter the following transactions in a general journal: Nov. 1 Jean Haghighat made payment on account, $750. 12 Marc Antonoff made payment on account, $464. 15 Cash sales were $3,763. 18 Will Mossein...

Answered: 1 week ago

Question

★★★★★

During its first year of operations, the McCormick Company incurred the following manufacturing costs: The company produced 31,000 units, and sold 20,500 units, leaving 10,500 units in inventory at...

Answered: 1 week ago

Question

★★★★★

The return of a long-only portfolio last year was 12%. The benchmark return was 10% and the sector allocation return was 3%. Would you say this manager was good at choosing individual stocks during...

Answered: 1 week ago

Question

★★★★★

2. Your group will identify a Department of Tourism (DOT)-accredited tourism and hospitality establishment in your area. Through observation and interview, you will validate the presence or absence...

Answered: 1 week ago

Question

★★★★★

Lorch Company prepares monthly cash budgets. Relevant data from operating budgets for 2021 are as follows: January February Sales $352,000 $398,000 Direct materials purchases 121,000 110,000 Direct...

Answered: 1 week ago

Question

★★★★★

AirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas and actual results for the month of February: 09 Fixed Component per Month...

Answered: 1 week ago

Question

★★★★★

INP 4203 Final Exam Review Chapter 9 Pay for Performance: Theory and Evidence What is a flexible benefit? What does someone with low self-esteem seek? What is the equity theory? What is distributive...

Answered: 1 week ago

Question

★★★★★

The components of which one of the following calculations seen on an income statement is identical for property-casualty insurers and noninsurers? Available answer options Select only one option A...

Answered: 1 week ago

Question

★★★★★

3. Avoid making mistakes when reaching our goals

Answered: 1 week ago

Question

★★★★★

4. Achieve our positive goals (1 and 3 are motivated by avoiding the negative, while 2 and 4 are motivated by the positive). b. Initiative: When I communicate with others, I think it is very...

Answered: 1 week ago

Question

★★★★★

18. In the statements below, put a cross for the statement you feel characterizes yourself best when you communicate with others. Its not necessarily the way you know you should communicate, but the...

Answered: 1 week ago

Previous Question Next Question