Question
On 1 July 2022, Bird Ltd acquired all the issued shares of Tokyo Ltd. All the assets and liabilities of Tokyo Ltd were recorded at
On 1 July 2022, Bird Ltd acquired all the issued shares of Tokyo Ltd. All the assets and liabilities of Tokyo Ltd were recorded at fair value except Plant (refer attachment).
It was estimated that Plant had a further life of 10 years and was depreciated on a straight-line basis.
|
| CA | FV |
| Plant (cost $80,000) | 40,000 | 48,000 |
Prepare consolidation worksheet entries in relation to Plant for the year ended 30 June 2024.
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Internal Auditing Assurance & Advisory Services
Authors: Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Cris Riddle, Mark Salamasick, Paul J. Sobel
4th Edition
0894139878, 978-0894139871
