Jean and John Inc had the following balance sheets on August 31, 2021, just before acquisition:

Jean Inc. John Inc. (carrying value) (carrying value) Cash $1,200,000 $300,000 Accounts Receivable $ 400,000 $ 64,000 Inventory $ 240,000 $ 80,000 Plant and Equipment (net) $ 860,000 $256,000 Goodwill $10,000 $ 20,000 Total Assets $2,800,000 $720,000 Accounts Payable $1,500,000 $300,000 Bonds Payable $ 600,000 $240,000 Common Shares $ 500,000 $ 60,000 Retained Earnings $ 110,000 $120,000 Total Liabilities and Equity $2,800,000 $720,000

Required: Calculate the following balances on the date of acquisition for the following accounts, that would appear on the consolidated Balance Sheet, given the following information below:

On August 31, 2021, Jean's date of acquisition, Jean Inc. purchased 90% of John Inc. for a cash consideration of $400,000. You were given the following fair values for John Inc. on the date of acquisition: Inventory - $60,000 Plant & Equipment - $350,000 Bonds Payable $210,000 Here are the accounts to calculate the balance for (given information above). Goodwill (18 marks) Non-controlling interest (3 marks) Common Shares (2 marks) Cash (2 marks)

Jean and Inhn Inr had the followine halanre sheete no Alpuct.31 2021, just before acquisition: Required: Calculate the following balances on the date of acquisition for the following accounts, that would appear on the consolidated Balance Sheet, given the following information below: On August 31. 2021, Jean's date of acquisition, Jean Inc. purchased 90% of John Inc. for a cash consideration of $400,000. You were given the following fair values for John Inc. on the date of acquisition: Inventory - $60,000 Plant \& Equipment - $350,000 Bonds Payable $210,000 Here are the accounts to calculate the balance for (given information abovel. - Goodwill (18 marks) - Non-controlling interest (3 marks) - Common Shares (2 marks) - Cash (2 marks) Jean and Inhn Inr had the followine halanre sheete no Alpuct.31 2021, just before acquisition: Required: Calculate the following balances on the date of acquisition for the following accounts, that would appear on the consolidated Balance Sheet, given the following information below: On August 31. 2021, Jean's date of acquisition, Jean Inc. purchased 90% of John Inc. for a cash consideration of $400,000. You were given the following fair values for John Inc. on the date of acquisition: Inventory - $60,000 Plant \& Equipment - $350,000 Bonds Payable $210,000 Here are the accounts to calculate the balance for (given information abovel. - Goodwill (18 marks) - Non-controlling interest (3 marks) - Common Shares (2 marks) - Cash (2 marks)