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if any possible can use like excel format thanks Blink Ltd is seeking to expand its share of the men's products market and has negotiated
if any possible can use like excel format thanks
Blink Ltd is seeking to expand its share of the men's products market and has negotiated to acquire the operations of Weeping Ltd At 1 July 2023, the trial balances of the two companies were as follows. Blink Ltd Weeping Ltd $ $ Cash 145 000 5 200 Accounts receivable 34 000 21 300 Inventories 56 000 30 000 Shares in listed companies 16 000 22 000 Land and buildings (net) 70 000 40 000 Plant and equipment (net) 130 000 105 000 Goodwill (net) 6 000 5 000 457 000 228 500 65 000 40 000 0 0 0 50 000 100 000 30 000 Accounts payable Bank overdraft Debentures Mortgage loan Contributed equity: Ordinary shares of $1, fully paid Other reserves Retained earnings (30/6/23) 200 000 15 000 150 000 6 500 2 000 27 000 457 000 228 500 Blink Ltd is to acquire all assets (except Cash and Shares in listed companies) of Weeping Ltd. Acquisition-related costs are expected to be $7 600. The net assets of Weeping Ltd are recorded at fair value except for the following. Carrying amount Fair value $ $ Inventories 30 000 26 000 Land and Buildings 40 000 80 000 Shares in Listed Companies 22 000 18 000 Accounts Payable (40 000) (49 100) Accrued Leave 0 (29 700) In exchange, the shareholders of Weeping Ltd are to receive, for every three Weeping Ltd shares held, one Blink Ltd share worth $2.50 each. Costs to issue these shares are $950. Additionally, Blink Ltd will transfer to Weeping Ltd its 'Shares in Listed Companies' asset, which has a fair value of $15 000. Blink Ltd will also give Weeping Ltd sufficient additional cash to enable Weeping Ltd to pay all its creditors and liquidation costs of $8 700. Required: Prepare the acquisition analysis and journal entries to record the acquisition of Weeping Ltd in the records of Blink LtdStep by Step Solution
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