File Home Inser Page Layout Formulas X Cut Copy Format Painter Dipboard Paste ACC204 Assignment-0221 (4) - Dcel (Product Activation Failed Data Review View Tell me what you wanz to do Wap Text == Merge Center S - % Conditional Formatas Formatting Table Alignment Number Styles Arial - 14 - A A TUS - SA Insert Delele Formal Auto- Fill Sortid Clear Filter Select Font 51 12001027 CHE B D [ F G K 9 Assignment Question - (Upload your assignment in WORD format file, including detailed explanation) 10 Maxix Ltd purchased all the issued shares of Somix Ltd for $1359000 on 1 July 2020 when the equity of Somix Ltd was as follows: 11 12 Share capital 543600 Asset revaluation 13 surpluss 10//00 14 Retained earnings 203850 At this date, Somix Ltd had not recorded any goodwill, and all identifiable assets and liabilities were recorded at fair value except for the followings, 15 16 Account Cost Carrying Amount Fair value Further 17 Inventories $40,800 $44,900 18 land $102,000 $112,000 19 Equipment $157,500 $126,000 $151,000 Somix Ltd identified at acquisition date a lawsuit Contingent liability where Somix Ltd was sued by a former supplier 20 with the Fairvalue of: $16,000 Unrecorded Asset Somix Lid had unrecorded and internally 21 generated Palent with the FairValue of: $41,000 5 Unrecorded Asset Somix Itd had unrecorded and internally generated in-process research and development with the FairValue of: 22 $31,000 Activate Windows 24 Tax rate: 30%. Assignment question Select betrain and press ENTER Those Paste Type here to search O BI ws g x] 22C Sunny DELL Home Insert Page Layout Formulas Data Review ACC204 Assignment 0221 Excel Product Activation failed) Tell me what you want to do.. View Arial Pe Copy - Post Format Painter BTU -AA => Wrap Text Een & Center Shine clipuan S- - Tom Conditional Formatas Formatting Tobie 47 Alignment et De Font BI Number 12001027 Styles Sot find a Her Select CON 3 D G 11 1 M Required 25 1. Prepare the acquisition analysis at acquisition date. 26 2. Prepare the business combination valuation entries and the pre-acquisition entry at acquisition date. 3.Prepare worksheet adjusting journal entries for the consolidation on 30 June 2021, considering 50% of inventory were sold by 30 June 2021 and no other changes in Somix's equity since the acquisition date. 27 28 4- In relation to the following intragroup transactions during the year ended 30 June 2021, prepare adjusting journal entries for the consolidation worksheet at 30 June 29 a. Somix Ltd sold a motor vehicle to Maxix Ltd for $70000. This had a carrying amount to Somix Ltd of $67900. Both entities depreciate motor vehicles at a rate of 10% p.a. 30 b. Maxix Ltd sold inventories to Somix Ltd for $82000 on credit, recording a profit of $16400. Half of the inventories were unsold by Somix Ltd at 30 June 2021. 31 c. Somix Ltd sells inventories to Maxix Ltd for $90000 in cash. These inventories had previously cost Somix Ltd $63000, and remain unsold by Maxix Ltd at the end of the 32 d. Maxix Ltd sells inventories to Somix Ltd for $84000 in cash (original cost to Maxix Ltd was $58800) and 80% are sold externally by 30 June 2021. 33 e. Somix paid $12000 dividend. 5. If Maxix Ltd purchased just 97% of the issued shares of Somix Ltd for $1359000 on 1 July 2020, partial goodwill method is under use and the NCI at acquisition date is 34 measured based on the proportionate share of the identifiable assets and liabilities in Somix Ltd. 35 a. Prepare the acquisition analysis at acquisition date. 36 b. Prepare the business combination valuation entries and pre-acquisition entry at acquisition date. 37 c. Prepare the journal entry to recognise NCI at acquisition date. 38 39 40 41 Activate Windows 42 13 Assignment question - Tele destination and rest ENTER or thouses 3:17M o i WE 9 Type here to search XII 22C Sunny DLL File Home Inser Page Layout Formulas X Cut Copy Format Painter Dipboard Paste ACC204 Assignment-0221 (4) - Dcel (Product Activation Failed Data Review View Tell me what you wanz to do Wap Text == Merge Center S - % Conditional Formatas Formatting Table Alignment Number Styles Arial - 14 - A A TUS - SA Insert Delele Formal Auto- Fill Sortid Clear Filter Select Font 51 12001027 CHE B D [ F G K 9 Assignment Question - (Upload your assignment in WORD format file, including detailed explanation) 10 Maxix Ltd purchased all the issued shares of Somix Ltd for $1359000 on 1 July 2020 when the equity of Somix Ltd was as follows: 11 12 Share capital 543600 Asset revaluation 13 surpluss 10//00 14 Retained earnings 203850 At this date, Somix Ltd had not recorded any goodwill, and all identifiable assets and liabilities were recorded at fair value except for the followings, 15 16 Account Cost Carrying Amount Fair value Further 17 Inventories $40,800 $44,900 18 land $102,000 $112,000 19 Equipment $157,500 $126,000 $151,000 Somix Ltd identified at acquisition date a lawsuit Contingent liability where Somix Ltd was sued by a former supplier 20 with the Fairvalue of: $16,000 Unrecorded Asset Somix Lid had unrecorded and internally 21 generated Palent with the FairValue of: $41,000 5 Unrecorded Asset Somix Itd had unrecorded and internally generated in-process research and development with the FairValue of: 22 $31,000 Activate Windows 24 Tax rate: 30%. Assignment question Select betrain and press ENTER Those Paste Type here to search O BI ws g x] 22C Sunny DELL Home Insert Page Layout Formulas Data Review ACC204 Assignment 0221 Excel Product Activation failed) Tell me what you want to do.. View Arial Pe Copy - Post Format Painter BTU -AA => Wrap Text Een & Center Shine clipuan S- - Tom Conditional Formatas Formatting Tobie 47 Alignment et De Font BI Number 12001027 Styles Sot find a Her Select CON 3 D G 11 1 M Required 25 1. Prepare the acquisition analysis at acquisition date. 26 2. Prepare the business combination valuation entries and the pre-acquisition entry at acquisition date. 3.Prepare worksheet adjusting journal entries for the consolidation on 30 June 2021, considering 50% of inventory were sold by 30 June 2021 and no other changes in Somix's equity since the acquisition date. 27 28 4- In relation to the following intragroup transactions during the year ended 30 June 2021, prepare adjusting journal entries for the consolidation worksheet at 30 June 29 a. Somix Ltd sold a motor vehicle to Maxix Ltd for $70000. This had a carrying amount to Somix Ltd of $67900. Both entities depreciate motor vehicles at a rate of 10% p.a. 30 b. Maxix Ltd sold inventories to Somix Ltd for $82000 on credit, recording a profit of $16400. Half of the inventories were unsold by Somix Ltd at 30 June 2021. 31 c. Somix Ltd sells inventories to Maxix Ltd for $90000 in cash. These inventories had previously cost Somix Ltd $63000, and remain unsold by Maxix Ltd at the end of the 32 d. Maxix Ltd sells inventories to Somix Ltd for $84000 in cash (original cost to Maxix Ltd was $58800) and 80% are sold externally by 30 June 2021. 33 e. Somix paid $12000 dividend. 5. If Maxix Ltd purchased just 97% of the issued shares of Somix Ltd for $1359000 on 1 July 2020, partial goodwill method is under use and the NCI at acquisition date is 34 measured based on the proportionate share of the identifiable assets and liabilities in Somix Ltd. 35 a. Prepare the acquisition analysis at acquisition date. 36 b. Prepare the business combination valuation entries and pre-acquisition entry at acquisition date. 37 c. Prepare the journal entry to recognise NCI at acquisition date. 38 39 40 41 Activate Windows 42 13 Assignment question - Tele destination and rest ENTER or thouses 3:17M o i WE 9 Type here to search XII 22C Sunny DLL