On January 1st 2020 The Skywalker and Vadar Companies had the following balance sheets:

SkyWalkerVadarcash2,000,00050,000accounts receivable1,000,00080,000inventory1,000,00050,000equipment1,000,000100,000accumulated depreciation500,00050,000land1,000,000100,000

total assets5,500,000330,000

accounta payable1,000,00040,000

common stock $1 par2,000,000100,000apic common stock1,000,000100,000

retained earnings1,500,00090,000

On January 2nd Skywalker acquired of 90% the outstanding stock of Vadar Company for 500,000 shares of common stock. On January 2nd Skywalker stock was selling for $2 per share.

On January 1st the fair market value of Vadar's land was $125,000; the fair market value of their inventory was $130,000; the fair market value of the equipment was $30,000; other assets and liabilities had a fair market value equal to book value

REQUIRED:

A. MAKE THE JOURNAL ENTRY SKYWALKER MAKES WHEN IT ACQUIRES THE VADAR STOCK

B. MAKE THE JOURNAL ENTRY VADAR MAKES WHEN ITS STOCK IS ACQUIRED BY SKYWALKER

C. PREPARE A CONSOLIDATED BALANCE SHEET ON JANUARY 2ND

D. MAKE THE NECESSARY WORKSHEET ENTRIES NEEDED TO PREPARE THE CONSOLDIATED BALANCE SHEET.

WHAT WOULD BE THE REPORTED GOODWILL IF POTTER AND VOLDOMORT WERE BRITISH COMPANIES? ( UNDER IFRS)